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

It’s time for a national conversation on productivity
Economy

Cameron Bagrie: It’s time for a national conversation on productivity

Bold action needed as a further downgrade to Treasury's forecasts looks likely.

Govt’s arms flailing, with little cohesive direction
Economy

Ganesh Nana: Govt’s arms flailing, with little cohesive direction

A tight-fisted Government is hobbling its own ambitions. 

NZ's directors see better days ahead
Economy

NZ's directors see better days ahead

Board directors are looking to Companies Act reform on their legal liabilities.

Treasury expects to downgrade forecasts
Economy

Treasury expects to downgrade forecasts

Per capita GDP has fallen 4.6% since the September quarter of 2022.

Rebecca Howard 21 Nov 2024