RBNZ gov Hawkesby: Labour market data highlighted subdued nature of New Zealand’s economy

RBNZ governor Hawkesby:

• Strained functioning of global markets create significant problems
• Supply-side impacts from tariffs could impact New Zealand significantly
• A lot of uncertainty about how structural framework of global economy realigns itself due to tariffs
• Most immediate impact is on confidence
• Labour market data highlighted the subdued nature of New Zealand’s economy
• RBNZ will likely lower its projections for global economic activity

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We had the labour market data from New Zealand yesterday.:

• New Zealand employment report, Unemployment rate 5.1% vs. 5.3% expected

This article was written by Eamonn Sheridan at www.forexlive.com.