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No action expected on New Zealand rates as business confidence mixed

Reuters
September 28, 2012, 2:18 pm TWN

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WELLINGTON -- New Zealand's business sentiment survey showed a mixed picture in September, pointing to modest economic momentum as inflation expectations remained benign, backing expectations for interest rates to stay at a record low well into next year.

The National Bank of New Zealand's monthly business outlook showed a net 29.3 percent of companies expect their own business to grow in the next 12 months, compared with a 26.4 percent optimism level in August.

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