Relative Return Insider: AI, inflation and astrology's big moment

In this episode of Relative Return Insider, host Olivia Grace-Curran is joined by AMP Chief Economist Shane Oliver to unpack the biggest economic themes influencing investors and markets. The pair discuss the IMF's latest global and Australian growth forecasts, exploring why the world economy continues to hold up despite ongoing shocks - from geopolitical tensions and oil market uncertainty to the accelerating AI investment boom. Shane shares his insights on the inflation risks emerging from the massive build-out of data centres, semiconductors and AI infrastructure - and what this could mean for central banks, interest rates and Australia's economic outlook. The conversation also covers the RBA's concerns around a more inflation-prone global environment, including deglobalisation, trade fragmentation, climate-related pressures and slowing productivity growth. Shane explains why the economic landscape has shifted from the disinflationary trends of previous decades to one where policymakers face increasingly complex trade-offs. Plus, the discussion turns to global central banks, including the Reserve Bank of New Zealand's latest rate move and the Federal Reserve's review of its communication strategy, balance sheet and inflation framework. Wrapping up, Olivia and Shane look ahead to the key economic data investors will be watching - including US inflation, Chinese growth figures, Australian confidence surveys and ongoing geopolitical risks - before taking a lighter detour into astrology, market cycles and whether the stars might have anything to say about the future.