WELLINGTON (Reuters) -New Zealand’s top central banker said on Thursday that the deterioration in the country’s labour market was within the bank’s expectations, after data this week showed the jobless rate in the third quarter rose to the highest level since 2016.
“It is hard out there, that is something that we had anticipated in terms of where we’re in the economic cycle,” Reserve Bank of New Zealand Governor Christian Hawkesby said at a parliamentary committee hearing.
(Reporting by Lucy Craymer in Wellington and Renju Jose in Sydney; Editing by Leslie Adler and Jamie Freed)
Comments