Jobs data keep RBNZ on track to cut by 50bps in Feb

RBNZ Governor Adrian Orr. (Image: BusinessDesk)

Wed, 05 Feb 2025

The December quarter jobs data will keep the Reserve Bank on track to cut the Official Cash Rate by 50 basis points to 3.75% this month.Stats NZ on Wednesday said the seasonally adjusted unemployment rate hit 5.1% in the December quarter versus 4.8% in the September quarter. It was a four-year high.It is also above the 25-year average of 4.8%, according to Craigs Investment Partners investment director Mark Lister.The total employment rate was 67.4% versus 69% a year ago and 67.7% in the September quarter. It was the largest annual fall in...

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