New Zealand business confidence rose for a third month in November on expectations for more hiring and investment in the next year and greater optimism about the nation’s economic recovery, a private survey showed.
New Zealand business expectations for inflation fell to a 13-year low in November, adding to the case for benign price pressure that may prolong a period of record-low interest rates, according to a private survey.
New Zealand’s central bank raised interest rates for the third time this year and signaled more tightening to come as the Christchurch rebuild and surging immigration fuel growth, sending the kiwi higher.
New Zealand’s central bank said it intends to start raising borrowing costs “soon” as the economy strengthens. The currency fell as markets had priced in about a 50 percent chance of a rate increase today.