Hot labour market to keep RBNZ on its toes

Seek.co.nz job ads hit a record in March (Image: Unsplash)

Wed, 13 Apr 2022

Hot inflation will be the headline when the Reserve Bank publishes its interest rate decision this afternoon but the tight labour market will also be under the microscope.The RBNZ has a dual mandate to keep inflation between 1% and 3% and to support maximum sustainable employment.Inflation is clearly outside the band, running at an annual 5.9% pace amid dire warnings from economists about how it will soon breach 7%.On the employment front, the RBNZ has already said it is above a “maximum sustainable” level, with the unemployment rat...

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