NZIER QSBO: RBNZ tightening looks to be gaining traction in dampening demand
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“New Zealand’s business confidence in the first quarter showed some positive developments with both business confidence and firms’ own trading activity recovering slightly,” according to the latest New Zealand Institute of Economic Research (NZIER) Quarterly Survey of Business Opinion (QSBO).
The NZIER QSBO statement also said, “The tightening in monetary policy by the Reserve Bank since November 2021 looks to be gaining traction in dampening demand in the economy.”
The NZIER QSBO outcome failed to inspire NZD/USD bulls, even if they cheer the broad US Dollar weakness around 0.6300 by the press time.
Also read: NZD/USD Price Analysis: Bulls are in control but are flirting with key resistance
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