Employment Stable, unemployment not.
• The unemployment rate surprisingly jumped to 7.3%, much higher than expected.
• Employment, however, has now roughly stabilised.
• RBNZ comfortable with “middle of the year” rate hike stance.
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Report Prepared by:
Chris Tennent-Brown
CBA NZ Economist
Phone: +64 9 374 8819
Fax: +64 9 302 0992
