I posted earlier on the data from New Zealand showing not quite as bad economic contraction as expected. But, still contraction:New Zealand Q2 GDP -0.2% q/q (expected -0.4%)Responses:What's coming up from the Reserve Bank of New Zealand after the weak NZ GDP dataNew Zealand GDP data showed a contraction, not as bad as expected - recapThis now via analysts at KiwiBank, pulling no punches in this forthright note. Good stuff.In brief:New Zealand remains in a prolonged recession. Forward-looking indicators suggest that the September quarter will record another contraction. That makes the recession two years old. Policy settings are restrictive, but more interest rate cuts are coming. High inter
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