Data earlier today brought the welcome news that New Zealand's economy grew in the first quarter of 2024:NZ exited recession as the economy grewThe data came in stronger than expected:New Zealand Q1 GDP +0.2% q/q (expected +0.1%)The latest forecasts from the RBNZ had projected 0.2% growth for the first quarter. The Bank will be satisfied that the economy is growing as it had expected. The Bank has held the cash rate at 5.5% for 7 meetings in a row. NZD/USD doing a wee bit of a gap fill: This article was written by Eamonn Sheridan at www.forexlive.com.
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