Will the business and consumer confidence good mood last?

It all depends on inflation. (Image: Getty)

Mon, 03 Jul 2023

The latest business and confidence surveys indicate the mood is brighter, but will it last? Pain from the rising cost of living doesn’t look to be abating, with annual inflation at 6.7% and billions of dollars of mortgages about to re-fix at significantly higher interest rates.“It’s great to see the improvement in business and consumer confidence, although it is still very soft, and we are not out of the woods,” said Jarrod Kerr, chief economist at Kiwibank. “Very restrictive monetary policy is still work...

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