KEY POINTS:
Pessimism about the economy has risen dramatically among businesses.
The latest BNZ confidence survey is the first after the Reserve Bank increased the official cash rate last month to 7.75 per cent.
Chief Economist Tony Alexander says it shows 30 per cent of businesses are pessimistic compared to 10 per cent last month.
He says it is a combination of the second interest rate increase and also the Kiwi dollar sustaining itself at very high levels.
He thinks it means the Reserve Bank probably will not increase the Official Cash Rate next month, but might further down the track.
- NEWSTALK ZB
