RBNZ's rate hikes gaining traction, but there's a long road to travel

A net 61% of businesses expect general economic conditions to deteriorate. (Image: Getty)

Tue, 04 Apr 2023

The Reserve Bank’s massive rate hikes look to be gaining traction but there is a long way to go, says the latest business outlook survey from the New Zealand Institute of Economic Research (NZIER).Importantly, sales overtook finding labour as the top primary constraint for businesses and there are some signs of easing inflationary pressure.“Businesses are no longer screaming out as loud for workers. Instead, weakening demand – engineered by RBNZ tightening – is starting to dominate the outlook,” said Kiwibank econo...

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