Business confidence continues to fall despite the medicine working

Business confidence continues to fall despite the medicine working
ANZ chief economist Sharon Zollner is optimistic the RBNZ will be able to cut the OCR earlier than its current forecast. (Image: Captured by Friday)
Tom Raynel
Business confidence is continuing to fall despite progress against inflation, according to the ANZ New Zealand Business Outlook for June 2024.Overall business confidence fell from +11.2 in May to +6.1 in June, a drop of 5.1 points.“The economy is clearly weak, as the RBNZ [Reserve Bank of NZ] intended, but more than that, we are finally seeing renewed meaningful progress on bringing inflation pressures down,” said ANZ chief economist Sharon Zollner.“There is still a long way to go, but we are optimistic that the RBNZ will be i...

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