NZ Unemployment rate Up to 6.6% from 6.5% Was expected to fall To 6.4% Jobs growth just 0.2% Just a third forecasts Christchurch jobs lost Retailing and hotels Part time jobs fall Despite RWC 2011 NZ$ down to 78 USc Was over 82 USc NZ Swap rates Also fall 2 bps Fixed mortgage rates Fell around 40-50 bps Outlook for OCR Still for mid 2012 Increase in OCR If Europe doesn’t implode …

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Economic weather report: Weak jobs data (news with Bernard Hickey)