A first major central bank cuts its policy rate
Kia ora,Welcome to Thursday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news some central banks have started to cut policy rates, others are contemplating long holds or even rises.But first, US mortgage applications fell a sharpish -5.2% in the last week of May from the prior week to be -13% lower than the same week a year ago, itself a weak level.And the US ADP employment report disappointed too, indicating private payrolls rose +152,000 in…
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