Poor NZ jobs report likely to fuel talks of RBNZ dovishness

FXstreet.com (Barcelona) - New Zealand's poor 2Q jobless rate will strengthen the case for the Reserve Bank of New Zealand not to raise the Official Cash Rate any time soon. This data may even fuel talks of a possible rate cut by the RBNZ following comments from NZ Prime Minister Key earlier this week after he said the RBNZ has 'room to move' and the high NZD 'takes pressure off the RBNZ. Economists expect the first rate hike not to come until mid-2013 the earliest.

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