New Zealand’s economy missed forecasts for growth in the fourth quarter and instead shrank 0.6% theSun theSundaily business NewZealand Economy inflation news
A street scene in Wellington. New Zealand’s annual economic growth slowed to 2.2%, as primary industries and manufacturing sectors shrank. – AFPpicNew Zealand’s economy missed forecasts for growth in the fourth quarter and instead shrank 0.6%, official data showed on Thursday , raising hopes in the market that the central bank will scale back planned interest rate increases.
The New Zealand dollar was down before the data but extended the fall to be off 0.6% at $0.6145. Two-year swaps are near a two-month low of 4.925% having fallen sharply overnight as bank worries drove bond yields down globally. The RBNZ has undertaken its most aggressive policy tightening since 1999, when the official cash rate was introduced, lifting it by 450 basis points since October 2021 to 4.75%.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
South Korea's Yoon to meet Japan's Kishida in Tokyo on ThursdaySEOUL, March 14 ― South Korean President Yoon Suk Yeol will travel to Japan for talks on Thursday with Prime Minister Fumio Kishida, a South Korean official said, days after...
Read more »
MRT Putrajaya Line Phase Two to start operations on March 16THE MRT Putrajaya Line Phase Two will start operations at 3pm on Thursday (March 16).
Read more »
S.Korea president heads to Japan for ‘new chapter’TOKYO, March 16 — South Korean President Yoon Suk-yeol arrives in Japan on Thursday looking to open a “new chapter” in relations as security challenges from Pyongyang and...
Read more »
‘Cloud skin’ is the trendy new-gen velvety matte makeup finish (VIDEO)PARIS, March 14 — Are we already moving on from dewy complexions? It would appear so, considering the latest beauty trend that has gone viral on TikTok, namely ‘cloud skin,’...
Read more »
Are New York prosecutors about to charge Trump?NEW YORK: Donald Trump&039;s former fixer Michael Cohen testified before a grand jury in New York Monday as prosecutors near a momentous decision on wheth...
Read more »
PM appoints Faiz Abdullah as new Isis Malaysia chairmanFaiz Abdullah served as an adviser in the economic affairs ministry from 2018 to 2020 and in Miti from 2020 to 2022.
Read more »