Free Trial

ASB write "slowing NZ GDP growth........>

NEW ZEALAND
NEW ZEALAND: ASB write "slowing NZ GDP growth looks to be translating into the
softer demand for labour, with weak employment readings from both Q1 employment
surveys. Wage growth is still failing to fire. Our expectation is that the
recent soft patch for GDP growth, and still-strong labour force attachment will
likely translate into additional labour market slack and still-sluggish wage
inflation. Both of these factors will likely necessitate more monetary policy
support. We expect 50bps of OCR cuts over the remainder of the year, with the
RBNZ potentially moving as soon as next Wednesday."
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.