New Zealand data: Card retail sales -0.7% m/m in October (prior -0.8%)

<p>Card retail sales -0.7% m/m in October </p><ul><li>prior -0.8%</li></ul><p>Card retail sales -2.0% y/y </p><ul><li>prior +1.6%</li></ul><p>New Zealand households have been slammed by the long cycle of interest rate hikes by the Reserve Bank of New Zealand. Which, of course, is a feature not a bug in the battle to drive down inflation.</p>

This article was written by Eamonn Sheridan at www.forexlive.com.