This week’s economic highlight will be the global flash PMIs for February, which are due on Friday. Last month these pointed to a good start to year for the global economy, and we'll be watching for further improvements, particularly in Europe. There'll be plenty of action in this part of the world too. Another 50-basis point cut to the OCR is expected here in New Zealand on Wednesday, while we're also expecting the first rate cut of this cycle across the Tasman, which would be an important milestone for the Australian economy and sharemarket.