NZ jobless rate spike stokes talk of Reserve Bank interest rate cuts

Wed, 07 Nov 2012

By Paul McBeth Nov. 8 (BusinessDesk) - New Zealand's 13-year high unemployment rate has opened the door for the Reserve Bank to cut interest rates to help underpin growth in an economy recovering from the deepest recession in two decades. The household labour force survey today showed the unemployment rate unexpectedly rose half a percentage point to 7.3 percent in the September quarter. Economists surveyed by Reuters were picking the headline rate to ease to 6.7 percent from 6.8 percent. Markets are giving central bank governor Graeme Whe...

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