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New Zealand Terms Of Trade Climbs 2.4% In Q3
(RTTNews) - The terms of trade in New Zealand rose a seasonally adjusted 2.4 percent on quarter in the third quarter of 2024, Statistics New Zealand said on Tuesday.
That exceeded expectations for a gain of 1.2 percent and was up from 2.1 percent in the previous three months
Export prices were up 0.7 percent on quarter, missing forecasts for an increase of 1.4 percent following the 5.2 percent gain in the second quarter.
Import prices slumped 1.7 percent on quarter versus expectations for a decline of 0.6 percent following the 3.1 percent gain in Q2.
Export volumes for goods fell 1.8 percent and import volumes rose 3.0 percent and export values for goods fell 0.3 percent and import values rose 1.1 percent.
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New Zealand Holds Key Rate As Expected
The Reserve Bank of New Zealand left its benchmark interest rate unchanged on Wednesday citing elevated level of uncertainty and near-term risks to inflation. The Monetary Policy Committee, governed by Christian Hawkesby, decided to hold the Official Cash Rate at 3.25 percent. The bank has paused the easing cycle for the first time since it started cutting rates in August 2024.
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New Zealand Building Consents Slump 15.6% In April
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New Zealand Retail Sales Rise 0.8% In Q1
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