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Economic weather: GDP fall as expected, but pressure on for new OCR cut

Economic weather: GDP fall as expected, but pressure on for new OCR cut



Bernard Hickey sifts through the December quarter GDP figures and the February trade surplus figures and finds the worst contraction since September 1992, but the best trade surplus in 8 years. This was as expected, but the strong NZ dollar and higher long term interest rates mean the RBNZ will have to work harder (but cutting the OCR further on April 30) to get a recession-hit economy going again.

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