- July 6, 2021
- Posted by: Stratford Team
- Category: Business
Shoppers are seen at a mall in Wellington, New Zealand July 16, 2020. Picture taken July 16, 2020. REUTERS/Praveen Menon/Files
- Business outlook swings into positive territory
- BNZ, ASB bring forward rate hike expectations to Nov. 2021
- NZD rises to one-week high
WELLINGTON, July 6 (Reuters) – New Zealand’s business confidence improved sharply in the second quarter as the COVID-free economy surged, prompting the New Zealand dollar to surge as investors brought forward rate hike expectations.
A net 7% of firms surveyed expected general business conditions to improve, compared with a 13% predicting a deterioration in the previous quarter, the New Zealand Institute of Economic Research’s (NZIER) quarterly survey of business opinion (QSBO) showed.
On a seasonally adjusted basis, 10% expected business conditions to improve, swinging from 8% who had expected a deterioration in the previous survey.
Firms also reported they were finding it more difficult than ever…
