Midterm upset, rate cycles split

The Weekly Briefing from Capital Economics · Nov 6, 2026 · 15m

There was an extraordinary swing to the Democrats in the US midterm elections, setting the scene for the final two years of the Trump presidency. Will it mean a greater focus on foreign policy for the president? What could it mean for the debt ceiling at home? We'll be talking though the implications for the US and global markets with chief economist Neil Shearing.

And the Australian central bank has raised its policy rate to an 18-year high, a week after New Zealand’s central bank unexpectedly left rates on hold. Both countries are dealing with the same energy shock, but they find themselves…