UPDATE 1-NZ business confidence eases in November-NBNZ

UPDATE 1-NZ business confidence eases in November-NBNZ

* NZ's business confidence eases for a second month

* Businesses more optimistic about own outlook

* NZ central bank seen on hold at next meeting (Adds details, comment, market reaction)

New Zealand business confidence eased for a second consecutive month in November but held near decade highs, while businesses were the most upbeat about their own activity in more than seven years.




The National Bank of New Zealand's monthly business outlook showed a net 33.7 percent of companies expected their own business to improve in the next 12 months, compared with a 30.5 percent optimism level in the October survey.

This was the highest level since May 2002.

The survey's headline measure of sentiment had 43.4 percent of respondents expecting the economy to improve over the next 12 months compared with a net 48 percent with that view in the previous month.

The net figure is arrived at by subtracting the percentage of companies that were pessimistic from those that were optimistic.

"Growth readings from the survey continue to point towards firming momentum over the coming year," said ANZ-National senior markets economist Khoon Goh.

The New Zealand dollar was little changed around $0.7266/69 at 0225 GMT on the data. It fell from $0.7332 earlier following a weaker than expected investment data in Australia.

Inflation expectations for the year ahead were barely changed at 2.61 percent from 2.6 percent the month before, teh survey showed.

"With pricing intentions remaining subdued, time still looks to be on the Reserve Bank of New Zealand's side," Goh said.

Earlier this week a survey for the Reserve Bank of New Zealand showed inflation expectations for the next two years jumping sharply, with economic growth seen picking up, and interest rates expected to rise.

An ANZ-Roy Morgan consumer confidence survey this week also showed sentiment was still optimistic but off the 22-month highs of October.

The RBNZ has cut rates to a record low 2.50 percent, and pledged to keep them there until the second half of next year. It is expected to leave rates unchanged at its next review on Dec. 10, a Reuters poll shows.