Data earlier today brought the welcome news that New Zealand’s economy
grew in the first quarter of 2024:
NZ exited recession as the economy grew
The data came in stronger than expected:
New Zealand Q1 GDP +0.2% q/q (expected +0.1%)
The latest forecasts from the RBNZ had projected 0.2%
growth for the first quarter. The Bank will be satisfied that the
economy is growing as it had expected.
The Bank has held the cash rate at 5.5% for 7 meetings in a row.
NZD/USD doing a wee bit of a gap fill:
This article was written by Eamonn Sheridan at www.forexlive.com.
