As interest rates globally have risen significantly in recent weeks, many investors are pushing back the timing for interest rate cuts. 

Yesterday, Australia saw a falling annual inflation rate. Annual inflation in the year to March was 3.6 percent – less than the hoped-for 3.4 percent, which the Reserve Bank had indicated would be the level needed to cut interest rates later in the year. 

Meanwhile, banks in New Zealand have released a preview of the first quarter labour market data.  

Unemployment levels have risen to 4.2 percent and markets are keenly watching for signs that wage growth is easing.  

Westpac Chief Economist Kelly Eckhold tells Roman Travers the unemployment level is a useful step on the path of 5 percent that the Reserve Bank is looking for. 

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