New Zealand consumers are ignoring bad economic news with
sentiment broadly stable at a respectable level, according to
the ANZ-Roy Morgan Consumer Confidence Index.
Job advertisements rose strongly in March and have more than
made up for those lost in January, the ANZ Job Ads report,
released yesterday, says.
The transtasman currencies both reached 10-month highs
yesterday, despite the best intentions of the New Zealand and
Australian central banks.
Mighty River Power's operating statistics were soft enough to
point to a modest 2016 financial year earnings downgrade,
Forsyth Barr broker Damian Foster said yesterday.
Tourist demand and record visitor numbers to southern New
Zealand have proved to be the principal driver of
Otago-Southland's service industry.
Small and medium-sized businesses have moved front and centre
this month after the Government last week announced changes
to simplify tax payments for the main employers of New
Low inflation is helping New Zealand households get ahead,
and wages, on average, continue to rise faster than the cost
of living, Finance Minister Bill English says.
The March consumer price index measure of inflation failed to
provide the signs of an official cash rate cut next week the
market was hoping for, ANZ senior economist Mark Smith said.
The GlobalDairyTrade auction tomorrow will be watched closely
for signs of stability and, hopefully, a further rebound,
Craigs Investment Partners broker Chris Timms said yesterday.
BNZ economists are making a "dangerous assumption'' the
Reserve Bank will next week cut the official cash rate to 2%
and cut it further in June.
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