UPDATE: NZ labour data has soft underbelly, will keep rate cut prospects alive

Wed, 01 May 2019

By Rebecca Howard May 1 (BusinessDesk) - New Zealand’s unemployment rate nudged lower and annual wage inflation ticked slightly higher. But given the underlying softness, the data is unlikely to sway the central bank from either cutting rates next week or at least setting the stage for a cut later this year. The seasonally adjusted unemployment rate fell to 4.2 percent in the three months ended March 31, from 4.3 percent in the December quarter, Stats NZ said in its household labour force survey. The data was in line with expectations. ...

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