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Stats NZ says unemployment has fallen to 4.0% from 4.1%, while wages rise by 2.6%, which is the most since 2009; RBNZ seen as puttin rates on hold
The Reserve Bank's seen as definitely putting interest rates on hold after the latest labour market figures from Statistics New Zealand have shown unemployment falling to 4% and annual wage growth hitting 2.6%. The RBNZ's making its first interest rate call of the year next week (Wednesday) and the labour market results appear to all but confirm that it will leave the Official Cash Rate unchanged at 1%, where it has been since the 50 basis-point 'double cut' in August of last year. And with the labour market continuing to appear firm, it's looking increasingly like that there will be no further interest rate cuts ... (full story)