RBNZ will still be 'wary' following higher-than-expected unemployment rate

(Image: Getty)

Wed, 02 Aug 2023

Unemployment may have edged higher than the Reserve Bank of New Zealand expected, but economists don't think it is enough to relax monetary policy settings.The seasonally adjusted unemployment rate rose to 3.6% in the three months ended June 30, from 3.4% in the March quarter, Stats NZ said in its household labour force survey on Wednesday.This was above the 3.5% rate the Reserve Bank of NZ (RBNZ) for unemployment to sit at in the June quarter.The employment rate was 69.8%, up from 69.5% in March while the labour force participation rate wa...

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