Data earlier today brought the welcome news that New Zealand's economy grew in the first quarter of 2024:
- NZ exited recession as the economy grew
The data came in stronger than expected:
The latest forecasts from the RBNZ had projected 0.2% growth for the first quarter. The Bank will be satisfied that the economy is growing as it had expected.
The Bank has held the cash rate at 5.5% for 7 meetings in a row.
NZD/USD doing a wee bit of a gap fill:
