6 Nov 2013
Flash: NZ jobs reinforces view RBNZ hikes will be delivered - Westpac
FXstreet.com (Barcelona) - The upbeat labour data out of New Zealand strengthens the case for the RBNZ to start its rate hikes cycle by H1 2014, notes Sean Callow, FX Strategist at Westpac.
Key Quotes
"New Zealand Q3 unemployment was steady as expected at 6.2% but employment jumped 1.2% versus consensus of 0.5%, as the participation rate leapt to 68.6% (f/c 68.0%)."
"This reinforces the view that the NZ recovery is on track and thus RBNZ rate hikes will be delivered as promised from H1 2014, at a time when much of the world will still be in super-loose monetary policy mode."
Key Quotes
"New Zealand Q3 unemployment was steady as expected at 6.2% but employment jumped 1.2% versus consensus of 0.5%, as the participation rate leapt to 68.6% (f/c 68.0%)."
"This reinforces the view that the NZ recovery is on track and thus RBNZ rate hikes will be delivered as promised from H1 2014, at a time when much of the world will still be in super-loose monetary policy mode."