Reserve Bank may push out path for future rate hikes as unemployment stays high

Thu, 09 Aug 2012

By Paul McBeth Aug 9 (BusinessDesk) - The Reserve Bank may have to push out its forecast track for higher interest rates as the nation's stubbornly high level of joblessness confounds economists seeing signs of growth in the economy. New Zealand's unemployment rate unexpectedly ticked up 0.1 percentage point to 6.8 percent in the three months ended June 30, against a forecast fall to 6.5 percent. That gives the central bank less reason to raise interest rates in an economy not yet strong enough to drive employment growth. "The (central) ban...

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Reserve Bank may push out path for future rate hikes as unemployment stays high

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