RBNZ will still be 'wary' following higher-than-expected unemployment rate

RBNZ will still be 'wary' following higher-than-expected unemployment rate
(Image: Getty)
Ella Somers
Unemployment may have edged higher than the Reserve Bank of New Zealand expected, but economists don't think it is enough to relax monetary policy settings.The seasonally adjusted unemployment rate rose to 3.6% in the three months ended June 30, from 3.4% in the March quarter, Stats NZ said in its household labour force survey on Wednesday.This was above the 3.5% rate the Reserve Bank of NZ (RBNZ) for unemployment to sit at in the June quarter.The employment rate was 69.8%, up from 69.5% in March while the labour force participation rate wa...

More Economy

Little reason to celebrate GDP data
Economy

Little reason to celebrate GDP data

NZ is no longer technically in a recession but quarter-on-quarter growth was only 0.2%.

Kaya Selby 20 Jun 2024
NZ economy grows a tad in March quarter
Economy

NZ economy grows a tad in March quarter

The GDP lifted 0.2% in March quarter. 

Staff reporters 20 Jun 2024
Current account deficit narrows
Economy

Current account deficit narrows

At 6.8% of GDP, the deficit was larger than the Reserve Bank and Treasury predicted.

Murray Jones 19 Jun 2024
Have we screwed the scrum too far in bank regulation?
Economy

Cameron Bagrie: Have we screwed the scrum too far in bank regulation?

The government's banking inquiry is overdue and welcome. 

Cameron Bagrie 19 Jun 2024