RBNZ Deputy Governor Hawkesby says higher interest rates means cooling jobs market

Reserve Bank of New Zealand Deputy Governor Hawkesby

• Employment data confirmation of trend we were expecting to see
• Higher interest rates will involve a cooling of the labour market
• High global inflation still remains a key risk for financial stability

Earlier today from NZ:

• Reserve Bank of New Zealand - risk of persistent inflation, rates restrictive for longer
• New Zealand data: Unemployment rate 4.3% (vs. 4.2% expected, 4.0% prior)