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New Zealand central bank is stepping up the pace – Commerzbank
1728472348 from FXStreet
As expected, the Reserve Bank of New Zealand (RBNZ) increased its pace of interest rate cuts this morning, this time lowering its benchmark interest rate by 50 basis points to 4.75 percent, following the surprise initial cut of 25 basis points in August, Commerzbank’s FX analyst Michael Pfister notes.
NZD/USD flat lines around 0.6235-6240 area, remains close to monthly top set on Thursday
1726800747 from FXStreet
The NZD/USD pair seesaws between tepid gains/minor losses through the Asian session on Friday and currently trades around the 0.6235-0.6240 region, well within the striking distance of the monthly peak touched the previous day.
New Zealand’s Leader Looks Forward to Falling Interest Rates
1726785415 from BLOOMBERG
Happy Friday everyone, it’s Harry here in Sydney. Here’s your daily download on what's happening to round out the week…Today’s must-reads:• NZ’s Luxon speaks at Bloomberg Address• The hunt for copper is falling short• NAB's CFO speaks on hiring challenges
New Zealand’s Luxon Eyes Economic Rebound After Tough First Year
1726765200 from BLOOMBERG
New Zealand Prime Minister Christopher Luxon can look forward to falling interest rates fueling an economic recovery in 2025 after a turbulent first year in office featuring a likely recession, widening budget deficits and tensions over race relations.
Kiwibank CEO Says NZ$500 Million Injection Can Kick-Start Growth
1726697003 from BLOOMBERG
New Zealand lender Kiwibank could grow significantly and achieve the government’s ambitions of disrupting the banking market with NZ$500 million ($310 million) of new capital, Chief Executive Officer Steve Jurkovich said.
New Zealand’s Treasury: Indicators for June quarter GDP point to a drop in economic activity
1726543812 from FXStreet
Ahead of New Zealand’s (NZ) second-quarter Gross Domestic Product (GDP) data release on Thursday, the country’s Treasury published on Tuesday, noting that “indicators for June quarter GDP point to a drop in economic activity.” Additional takeaways We anticipate the economy contracted by 0.4% in the quarter, down from a forecast of 0.2% growth at our Budget Update.