The next step then is seeing a reduction in business pricing intentions and that is where the labour market data are important. So, what did the labour market data yesterday tell us? Wages growth is very strong and exceeds the inflation rate of 7.2%. What are the main implications of the labour market data? In simple terms in no way do they suggest that the New Zealand labour market is weakening off as a result of the monetary policy tightening which has happened so far.

Source: Stuff November 04, 2022 06:18 UTC