January to March 2019 economic growth data for NZ
0.6% q/q
- expected 0.6% q/q, prior 0.6%
2.5% y/y
- expected 2.3% y/y, prior 2.3%
The RBNZ will like this result today, they cut rates at the previous meeting but this lower the prospect for a cut at the next. Further rate cuts are not going to be ruled out, but the bank can afford to wait.
NZD marked higher with the y/y beat.