From the New Zealand Treasury's Economic Update, issued late last week:Weak housing market, lower food prices and expected inflation highlights low demand No turning point in sight amid lower retail spending and sector-wide business activityTreasury include a forecast for Wednesday's Reserve Bank of New Zealand meeting, with the consensus:Indicators continue to point to low demand heading into the second quarter affecting consumers and businesses alike. A convincing drop in inflation expectations, discretionary spending and normalising patterns of migration will be welcome news to the Reserve Bank but a rate cut at (this) week’s Monetary Policy Statement is unlikely. Furthermore, business se
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