Unemployment set to head higher, RBNZ still wary

(Image: Getty)

Wed, 07 Feb 2024

Economists are tipping the latest data to show labour pressures are easing but say the hurdle for interest rate cuts will remain high. The unemployment rate is expected to be between 4.2% to 4.3% in the December quarter versus 3.9% in the September quarter.The Reserve Bank of New Zealand’s (RBNZ) latest forecasts have it at 4.2%.The data is due at 10:45 on Wednesday. While the RBNZ is no longer required to have a target of maximum sustainable employment, the labour market – particularly wage growth and wage expectations &n...

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