New Zealand Business Confidence Hits 10-Year High, Boosting Kiwi.

New Zealand business confidence has reached a 10-year high following interest rate cuts by the central bank, according to a survey by ANZ Bank. The survey found that 50.6% of respondents expect the economy to improve in the next year, up from 27.1% in July. The Reserve Bank's decision to cut the Official Cash Rate earlier than expected was driven by a slowing economy and increasing expectations of global interest rate cuts. The New Zealand dollar also rose following the release of the survey. Inflation expectations fell below 3% for the first time since mid-2021, but pricing intentions increased. [Extracted from the article]