
The Markets
Markets muted after ‘ridiculous’ employment data
Wednesday 3rd of November 2021
BNZ head of research Stephen Toplis said the employment rate was verging “on the ridiculous” and may not be sustainable.
The headline unemployment rate, at 3.6%, is well below the Reserve Bank of New Zealand’s (RBNZ) estimated threshold of where the hot labour market starts to cause inflation.
Toplis said the central bank hiking the cash rate by 50 basis-point...
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