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2025-10-30 09:52:20
[New Zealand Business Confidence Index Rebounds Significantly in October] 1. New Zealand's business confidence index rebounded significantly in October, mainly due to the Reserve Bank of New Zealand's aggressive interest rate cuts, with the index reaching its highest level since February. 2. The proportion of businesses expecting economic improvement over the next year rose sharply to 58.1% from 49.6% in September. The proportion expecting business growth rose slightly to 44.6% from 43.4% in September. The retail sector showed a clear recovery, becoming a leading indicator of economic recovery. 3. The Reserve Bank of New Zealand cut its benchmark interest rate by 50 basis points this month. Since the start of this easing cycle in August 2024, the bank has cumulatively cut rates by 300 basis points to address the current fragile state of the economy.
