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The value of retail sales in June was down a seasonally adjusted 1.4 percent on month in June, the Ministry of Economy, Trade and Industry said on Friday.

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New Zealand business confidence improved marginally in July, though remained gloomy overall, survey results from ANZ showed on Thursday.

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In a widely anticipated move, the Federal Reserve on Wednesday announced its decision to raise interest rates by 75 basis points. The Fed said it decided to raise the target range for the federal funds rate to 2.25 to 2.50 percent in an effort to achieve its dual goals of maximum employment and inflation at a rate of 2 percent over the longer run.

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UK retailers expect sales volume to decline more markedly next month as consumers struggle to cope with the effects of the cost of living crisis, the Distributive Trades Survey results from the Confederation of British Industry showed on Tuesday.

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Bear market rally running out of steam as US data slows. Fed expected to hike another 75bps.

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