UPDATE: 'Slack' NZ labour market keeps door open for more rate cuts

Wed, 05 Aug 2015

(Updates and recasts with economist comment throughout) By Paul McBeth Aug. 5 (BusinessDesk) - New Zealand's slackening labour market gives the Reserve Bank more reason to cut interest rates as wage hikes remain muted and jobs growth lags behind an expanding working population for the first time since September 2012. Traders are pricing in a 78 percent chance governor Graeme Wheeler will lower the official cash rate to 2.75 percent at the Sept. 10 meeting, helping prop up an economy that's weathering a slump in global dairy prices, nea...

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