Consumer confidence has risen to a five year high in New Zealand following the Central Bank’s decision to further ease monetary policy.
According to a Colmar Brunton poll for Television New Zealand, 50 per cent of respondents expect the economy to improve in the next 12 months – up from 44 per cent in August and just 28 per cent in July.
The Reserve Bank of New Zealand slashed interest rates by 50 basis points last week, following a 25 basis point reduction in July.
New Zealand rates slashed by 50bps 11-09-08
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