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

Thu, 20 Sep 2018

(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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