NZ dollar jumps as markets pare back August cut expectations

NZ dollar jumps as markets pare back August cut expectations
NZD takes flight as expectations shift. (Image: Getty)
Rebecca Howard
The kiwi dollar took flight after markets pared back rate cut expectations after the latest jobs data. Unemployment rose to 4.6% in the June quarter, below a consensus forecast of 4.7%. It was 4.4% in the March quarter and 3.6% in the same quarter a year ago.Before the data was released, markets had priced in a 92% chance of a 25-basis point cut to a 5.25% cut next Wednesday. Market pricing is now at 55%.  The New Zealand dollar was trading at 60.02 US cents at 3pm in Wellington compared to 59.53 US cents just prior.  No smoking...

More Economy

First look at NZICC, and SkyCity's hopes for $70m fund
Economy

First look at NZICC, and SkyCity's hopes for $70m fund

SkyCity's COO says a new govt fund should help fill empty hotel rooms across Auckland.

Banks revise economic outlooks for Q2 GDP contraction
Finance

Banks revise economic outlooks for Q2 GDP contraction

Economists now see NZ's GDP contracting in Q2, but doubt a technical recession in Q3.

Adrian Orr’s first commercial post-RBNZ gig revealed
Economy

Adrian Orr’s first commercial post-RBNZ gig revealed

Orr backs the Māori economy in his first executive gig since quitting.

Pattrick Smellie 12 Sep 2025
Retail card spending climbs for third month
Retail

Retail card spending climbs for third month

The total amount spent using electronic cards was $9.3 billion.

Chido Machingura 12 Sep 2025