Better business confidence won't trigger rate cut

(Image: Getty)

Wed, 17 Jan 2024

Businesses may be more optimistic, but economists say it won’t be enough to prompt the Reserve Bank of New Zealand to cut rates any sooner. A net 10% of businesses surveyed in the December quarter expect economic conditions to worsen over the next year, according to the NZ Institute of Economic Research’s (NZIER) Quarterly Survey of Business Opinion (QSBO). This was a significant step up from the September quarter, when a net 49% saw conditions worsening. The official cash rate (OCR) is currently at 5.5% after an aggr...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Markets Market Close

NZ sharemarket down 1.5% for week, 8.4% for year

"We may have seen the worst of the tariff announcements ..."

Graham Skellern 11 Apr 2025

Markets

Asian markets fall as Trump acknowledges costs

In early trade in Asia on Friday, Japan's Nikkei tumbled more than 5%.

AFP 11 Apr 2025

Asian markets fall as Trump acknowledges costs

Travel

Helloworld Travel acquires Wellington's Barlow Travel Group

Barlow Travel Group employs 30 staff, mostly in its Wellington head office.

John Anthony 11 Apr 2025

Helloworld Travel acquires Wellington's Barlow Travel Group

Sponsored

Go beyond reporting zero emissions

Clean energy that helps businesses and communities thrive

Meridian Energy

Sponsored

New life in property market

Tax rule changes are bringing back mum-and-dad investors.

Fletcher Living

More Economy

Economy

Manufacturing sector keeping head above water

New Zealand’s manufacturing sector remained in expansionary territory for a third consecutive month, according to the latest BNZ – BusinessNZ Performance of Manufacturing Index (PMI). The seasonally adjusted PMI for March was 53.2, down from 54.1 in February. A number above 50 m...

Rebecca Howard 11 Apr 2025