NZD/USD: New Zealand economic growth forecasts revised

According to a report published on Tuesday on economic and financial conditions in New Zealand, forecasts for the growth of the New Zealand economy were revised with a slight decrease.

Finance Minister Stephen Joyce said that in the next four years, the average growth rate of New Zealand’s GDP could reach 3%, whereas earlier it was forecasted an average annual growth rate of 3.1%.

The New Zealand dollar is actively declining since the beginning of August. Over the past two days, the NZD / USD pair has declined by about 100 points or by 1.3%.

This is also promoted by the growth of quotations of the US dollar on the eve of the economic conference in Jackson Hole, which will be held on August 24-26. The conference will feature the heads of the world’s leading central banks. From the chairman of the Fed, Janet Yellen is waiting for statements in favor of a third increase in interest rates in the US for the current year.

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