The New Zealand economy has had some fits and starts in 2022, but inflation rates remain near multi-decade highs and the labor market continues to be a bright spot. According to a Bloomberg News survey, New Zealand employment change increased by +0.4% q/q in 2Q’22 from +0.1% q/q in 1Q’22, while the unemployment rate eased to 3.1% from 3.2% - a fresh multi-decade low.
The Bank of England is likely to raise rates by 50-bps this week, bringing their main rate to 1.75%, according to a Bloomberg News survey. But much like the Federal Reserve last week, a rate hike may not be enough to keep thepointed higher. Instead, focus is on the BOE’s forward guidance: how many more rate hikes are coming down the pipeline.
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