UPDATE: Stronger than expected growth sees traders dial back rate cut chance

(Recasts with comment from economists)
By Rebecca Howard
Sept. 20 (BusinessDesk) - New Zealand's stronger-than-expected economic growth pared any chance of a rate cut but downside risks - particularly flagging business confidence - remain.
Gross domestic product expanded 1 percent in the June quarter, accelerating from a 0.5 percent rise in March, and was up 2.8 percent on the year, Statistics New Zealand said. Economists had expected quarterly growth of 0.8 percent and 2.5 percent annual growth, according to the median in a Bloomberg...
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