BoE raises Bank rate by 25bps to 5.25% today. Two members, Jonathan Haskel and Catherine Mann voted for 50bps hike. Swati Dhingra voted for no change again. Six other MPC members vote for the decision. Hawkish bias was somewhat softened slightly, as the language that “the MPC will adjust Bank Rate as necessary” was dropped. […]
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New Zealand’s goods exports increased by 7.5% yoy in October, reaching NZD 5.8B, while total goods imports rose by 3.0% yoy to NZD 7.3B. This resulted in a trade deficit of NZD -1.54B, which, although Read more…
New Zealand’s retail sales volume for Q3 showed a marginal decline of -0.1% qoq, a better outcome than the expected -0.5% qoq contraction. However, the data revealed underlying weakness, as retail sales excluding autos fell Read more…
Retail sales fell 0.1% in the September quarter, a smaller drop than we expected. Retail spending remains soft, but is likely to firm over the coming months. September quarter retail sales (volume of good sold): Read more…