New Zealand’s trade deficit narrowed to NZ$143mn in July from a revised NZ$288mn previously (revised from -NZ$113mn), notes the research team at TD Securities.
Key Quotes
“Exports increased to NZ$ 5.35bn while imports increased to NZ$5.49bn. Despite this narrower deficit in July, the annual deficit was the largest since March 2009.”
“More interesting were comments from RBNZ governor Orr that “We don’t rule out a rate cut if we have to”.”
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