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Economics
7 mins to read

Don’t expect ‘early or aggressive’ rate cuts this year: economist

Unemployment statistics lower than expected but employer advocacy group warns data doesn’t paint picture of what’s happening right now.

WATCH: Moody’s Analytics economist Harry Murphy Cruise speaks with Jonathan Mitchell.

Key points
  • What’s at stake: Whether the RBNZ needs to hike the official cash rate again in 2024 because of stubborn inflation pressures. 
  • Background: Stats NZ data out yesterday showed unemployment rose to 4% in the December quarter, lower than expectations.
  • Key players: RBNZ, Adrian Orr, Stats NZ, Moody's Analytics, Harry Murphy Cruise, John Carran, Bevan Graham, Henry Russell, Sharon Zollner, Kelly Eckhold, Mark Smith, Nic Guesnon, Jarrod Kerr, EMA, Alan McDonald.

Rate cuts could be kicked down the road this year if economic numbers, such as the labour market, take the slow lane to desired levels.

Stats NZ data out yesterday showed unemployment rose to 4% in the December quarter, while wages increased in the public sector late last year.

Economists had

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Contact the Writer: jmitchell@nbr.co.nz
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Key points
  • What’s at stake: Whether the RBNZ needs to hike the official cash rate again in 2024 because of stubborn inflation pressures. 
  • Background: Stats NZ data out yesterday showed unemployment rose to 4% in the December quarter, lower than expectations.
  • Key players: RBNZ, Adrian Orr, Stats NZ, Moody's Analytics, Harry Murphy Cruise, John Carran, Bevan Graham, Henry Russell, Sharon Zollner, Kelly Eckhold, Mark Smith, Nic Guesnon, Jarrod Kerr, EMA, Alan McDonald.
Don’t expect ‘early or aggressive’ rate cuts this year: economist
Economics,
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