澳新银行罗伊摩根消费者信心指数在3月份降至93.2，尽管略有上升，但仍在努力显示持续改善。关键零售指标“购买主要家居用品的好时机”指标下降1点，至-16点，表明消费者信心减弱。通胀预期小幅上升0.2个百分点，至4.2%，这是自2024年6月以来首次超过4%。未来状况指数下降了2个百分点，而当前状况指数则大幅下降了5个百分点，反映了人们对个人财务的负面看法。有趣的是，有抵押贷款的人越来越倾向于消费，偏离了通常的趋势，这可能表明对零售商的需求被压抑了。尽管这些信号喜忧参半，通胀预期上升，经济指标仍然疲软，但很明显，消费者仍然保持谨慎，等待劳动力和住房市场的更具体改善。

The ANZ-Roy Morgan Consumer Confidence index fell to 93.2 in March, continuing its struggle to show sustained improvement despite a slight upward trend. The "good time to buy a major household item" indicator, a key retail measure, eased by 1 point to -16, signaling weaker consumer sentiment. Inflation expectations edged up by 0.2 percentage points to 4.2%, marking the first time since June 2024 that they’ve surpassed the 4% mark. The future conditions index dropped 2 points, while the current conditions index saw a sharper decline of 5 points, reflecting negative perceptions about personal finances. Interestingly, individuals with mortgages have become more inclined to spend, deviating from usual trends, which could signal some pent-up demand for retailers. Despite these mixed signals, with rising inflation expectations and still-weak economic indicators, it’s clear that consumers remain cautious, waiting for more concrete improvements in the labor and housing markets.

周四，新西兰基准标准普尔/NZX 50指数下跌0.2%，收于12306点，结束了美国总统唐纳德·特朗普公布新关税后的五天连胜。特朗普周三宣布从4月2日起对进口汽车和轻型卡车征收25%的关税，加剧了人们对贸易战的担忧。大盘股领跌，斐雪派克（-1.2%）、Infratil（-2.5%）、Ebos Group（-1.1%）和Mainfreight（-2.3%）均出现显著下跌。Ryman Healthcare的股价飙升5.3%，帮助限制了该指数的下跌。此前，这家养老院运营商与贷款人达成协议，偿还其于2021年设立的2.75亿新西兰元的机构定期贷款。

New Zealand's benchmark S&P/NZX 50 index fell 0.2% to close at 12,306 on Thursday, snapping a five-day winning streak after U.S. President Donald Trump unveiled new tariffs. Trump on Wednesday announced a 25% tariff on imported cars and light trucks from April 2, fueling trade war concerns. Large-cap stocks led the downturn, with Fisher & Paykel (-1.2%), Infratil (-2.5%), Ebos Group (-1.1%), and Mainfreight (-2.3%) posting notable losses. Helping limit the index's decline, shares of Ryman Healthcare surged 5.3% after the retirement home operator reached an agreement with lenders to repay its NZ$275 million institutional term loan, which was established in 2021.

周四，新西兰元升至0.573美元左右，因唐纳德·特朗普总统对进口汽车和轻型卡车征收25%的关税后，美元下跌，该关税将于4月2日生效。这一关税将与美国计划的其他互惠征税相吻合，引发了人们对可能损害经济增长的更广泛贸易战的担忧。与此同时，标普全球评级最近预测，新西兰和其他地区经济体受美国贸易措施的影响较小，为新西兰元提供了一些支持。然而，在国内，新西兰储备银行进一步放松货币政策的预期继续对货币构成压力。经济学家认为，尽管上周的GDP数据令人惊讶地上升，但新西兰储备银行仍有望在4月和5月进一步降息。

The New Zealand dollar rose to around $0.573 on Thursday as the U.S. dollar retreated after President Donald Trump imposed a 25% tariff on imported cars and light trucks, set to take effect on April 2. This tariff will coincide with other reciprocal levies planned by the U.S., raising concerns of a broader trade war that could hurt economic growth. Meanwhile, S&P Global Ratings recently projected that New Zealand and other regional economies would be less affected by U.S. trade measures, lending some support to the Kiwi dollar. Domestically, however, expectations of further monetary easing by the Reserve Bank of New Zealand continue to weigh on the currency. Economists see the RBNZ remains on track to implement additional rate cuts in April and May, despite GDP figures last week surprising to the upside.

周四早盘，新西兰元50指数下跌27点，跌幅0.2%，收于12307点，结束了连续五个交易日的上涨。这一下跌反映了华尔街周三的负面收盘，这是由于对全球贸易紧张局势对美国经济和通胀后果的重新担忧造成的。特朗普总统签署了一项25%的汽车进口关税，暗示下周将征收更广泛的关税，从而加剧了这场争端。在周五美国个人消费支出数据和下周最大贸易伙伴中国采购经理人指数数据公布之前，投资者保持谨慎。消费者、商业服务和医疗保健拖累该指数，交易员在新西兰股市创下11月以来最大单日涨幅后锁定利润。对RBNNZ今年可能在4月、5月和2025年晚些时候三次降息的乐观情绪限制了进一步的损失，通货膨胀得到了控制。主要跌幅包括Serko有限公司（-1.8%）、A2 Milk Co.（-1.5%）、Ebos Group（-1.3%）、新西兰餐厅品牌（-1.1%）和Colonial Motor Co.（-0.7%）。

The NZX 50 fell 27 points or 0.2% to 12,307 during Thursday morning trading, ending a five-session winning streak. This decline mirrored Wall Street's negative close on Wednesday, driven by renewed concerns about US economic and inflationary consequences of global trade tensions. President Trump intensified the dispute by signing a 25% tariff on auto imports, hinting at wider levies expected next week. Investors exercised caution ahead of the US PCE data Friday and PMI figures next week in top trading partner China. Consumer, commercial services, and healthcare weighed on the index as traders locked in profits after the largest one-day gains in New Zealand stocks since November. Capping further losses was optimism about three anticipated rate cuts by the RBNNZ this year, likely in April, May, and later 2025, with inflation under control. Key declines included Serko Ltd. (-1.8%), A2 Milk Co. (-1.5%), Ebos Group (-1.3%), Restaurant Brands NZ (-1.1%), and Colonial Motor Co. (-0.7%).