ANZ’s latest measure of consumer confidence shows inflation expectations at highest level since July, 2023.
The Finance Minister says New Zealand is ‘open for business’ and a new economic approach is desperately needed.
The RBNZ previously warned it had a ‘willingness’ to hike again this year because of lingering inflation pressures.
Unemployment statistics lower than expected but employer advocacy group warns data doesn’t paint picture of what’s happening right now.
Stats NZ labour market data comes in below expectations in the December quarter, while health and education wage settlements flow through.
Plus, Stats NZ data shows building consents fell 25% last year, while unemployment expected to nudge higher.
Analysts reckon the RBNZ chief economist’s comments today indicate no OCR cuts in the ‘near term’.
Net debt at the end of November was $1.77b lower than expected.
OCR cuts pencilled in from August – while inflation back in key zone later this year.
Annual fall more than the RBNZ expected back in November, lowering the chances of another OCR hike.