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15 Oct 2024 4:13
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      Home > News > Business

    Migration data's pointing toward another potential Official Cash Rate cut

    Migration data's pointing toward another potential Official Cash Rate cut

    11 October 2024
    New Stats NZ figures show New Zealand had an annual net migration gain of nearly 54-thousand people in the year to August - against 110-thousand people the year before.

    81-thousand Kiwis headed overseas - driving a record 134-thousand departures.

    ASB economist Kim Mundy says these flow-on effects warrant another 50-basis point OCR cut in November.

    She says with net migration numbers coming down like this, it's less demand for consumer goods and housing.

    © 2024 Newstalk ZB, NZCity


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