The labour market is doing what the RBNZ wants

(Image: Getty)

Tue, 23 Apr 2024

Now that first-quarter inflation data has been reported, investors will focus on next week’s job numbers.BNZ senior economist Doug Steel said he expects that data to “generally confirm softening in the labour market, although not substantially different from what the RBNZ anticipates”.While the Reserve Bank of New Zealand (RBNZ) no longer has a specific mandate to ensure maximum sustainable employment, it remains central to monetary policy. BNZ will finalise its estimates after next Monday’s March employment i...

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