GBPNZD Exchange Rate

UK retail sales declined more than expected in April as poor weather reduced footfall, official data revealed on Friday. Meanwhile, a monthly survey conducted by the market research group GfK showed that British consumer sentiment strengthened in May as households' became more optimistic about future personal finances and general economic outlook.

The total volume of retail sales in New Zealand was up a seasonally adjusted 0.5 percent on quarter in the first three months of 2024, Statistics New Zealand said on Thursday.

UK consumer prices rose more than expected in April due to the stickiness of services inflation, which would possibly delay the timing of the first interest rate cut. Consumer prices rose 2.3 percent on a yearly basis in April, slower than the 3.2 percent increase in March, the Office for National Statistics reported Wednesday.

New Zealand's central bank maintained its benchmark rate for the seventh consecutive session and signaled a delay in rate cuts as services inflation is receding slowly. The Monetary Policy Committee of the Reserve Bank of New Zealand, led by Governor Adrian Orr, decided to hold the Official Cash Rate at 5.50 percent.