Bollard keeps OCR at 2.5 percent , cites weak trading partners, complains about kiwi dollar

Wed, 12 Sep 2012

By Paul McBeth Sept. 13 (BusinessDesk) - Reserve Bank governor Alan Bollard kept the official cash rate at 2.5 percent at his final review of monetary policy, saying the weak outlook for the country's trading partners threatens economic growth and the strong kiwi dollar is hurting exporters and local manufacturers. "Several euro-area economies are in recession and Chinese growth has slowed," Bollard told a briefing in Wellington. Signs of life in the domestic economy were being offset by the government's plans for fiscal consolidation and a...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Opinion
Putin's war is a challenge to global corporate conscience
David Brain | Sat, 28 May 2022

Global businesses with strong retail brands appear the most likely to stop doing business in Russia altogether, but there are holdouts.

On the Money
ON THE MONEY: Greg Foran, Straker and Ryman Healthcare
Victoria Young | Sat, 28 May 2022

OTM this week: The PM’s US tour, Grant Robertson’s golden rules, Greg Foran and more.

Politics
Sydney firm to build NZ Police’s arms information system
Ava Bradley | Fri, 27 May 2022

The company’s software will provide a secure digital database of all firearms transactions and legally owned firearms in NZ and is estimated to bring in $13 million for the ASX-listed company.

Partner content
Small business lessons for attracting and retaining staff

Employers battling through the ‘Great Resignation’ are now faced with the ‘Great Brain Drain’.

Partner content
People leaders are key to wellbeing but still need help

One in three people say they have experienced an issue with an unsupportive manager