Weak New Zealand Business Confidence Adds to Rate-Cut Pressure ...Middle East

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Weak New Zealand Business Confidence Adds to Rate-Cut Pressure
source : NY Times News ( Middle East ) () 27
(Bloomberg) — New Zealand businesses are more pessimistic on the economy, increasing the risk of another contraction and putting pressure on the central bank to cut interest rates sooner than it’s currently projecting. A net 44% of firms are pessimistic about the outlook for the economy over the next six months, up from 25% in the first quarter, the New Zealand Institute of Economic Research said Tuesday in Wellington. Its Quarterly Survey of Business Opinion showed a net 28% said their own trading deteriorated in the three months through March — the weakest reading since mid-2020 during the Covid-19 pandemic.  New Zealand’s central bank has kept interest rates high to slow demand

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