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Canadian inflation continues to ease, moving closer to the Bank of Canada's target

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United States building permits

U.S. Consumer Confidence falls in September

Canada's economy shows growth in July, but growth stalled in

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U.S. weekly jobless claims unexpectedly decrease

Australian economic growth recovers strongly in Q3 2020

Swedish economic sentiment indicator rises in November

Taiwanese money supply continues to see strong growth, CBC likely to keep rates on hold in December

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Malaysian headline inflation falls further in October, likely to remain negative in 2020

Canadian employment likely declined in November, jobless rate to have risen to 9 pct

U.S. durable goods orders sustain robust growth

U.S. personal income and spending rose less than expected in August

U.S. existing home sales decline in August

Swiss franc likely to gradually depreciate against euro in coming months

RBNZ cuts OCR to 3%, says further NZD depreciation is needed

Thursday, July 23, 2015 3:51 AM UTC

New Zealand interest rates were cut for the second time in as many months on Thursday, as sharp falls in dairy prices and waning building activity in earthquake-struck Canterbury has eroded the economic outlook, while the recent weakening in the New Zealand dollar is expected to support growth going forward.

The Official Cash Rate (OCR) was lowered from 3.25% to 3.0% on Thursday, and the central bank explicitly stated that further rate cuts were likely. On Thursday Wheeler admitted that the growth outlook had weakened since the bank released GDP forecasts on June 11, largely due to the impact of weaker dairy prices and the slowdown of construction activity in Christchurch.

The New Zealand dollar rose sharply against the greenback on Thursday after the Reserve Bank of New Zealand signalled that its comfort level for the currency was a great deal closer than where it was just a few months ago.

 

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