Jobs data could rule out a February rate hike

ANZ Bank economists expect the unemployment rate to lift to 3.9%. (Image: Getty)

Fri, 27 Oct 2023

Next week’s jobs data could see the market rule out a February rate hike, but some economists warn the battle isn’t over yet. The Reserve Bank of New Zealand (RBNZ) has a dual mandate: to support employment at its maximum sustainable level and maintain price stability.It has lifted interest rates from 0.25% in August 2021 to the current 5.5% in a bid to engineer an economic slowdown to curb rampant inflation.On the price stability side of the equation, annual inflation eased to 5.6% in the September quarter. While that&rs...

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