Here comes the pain

Here comes the pain
The road to success means more pain in the short term. (Image: Getty)
Frances Cook
If you think people are squealing about the cost of living now, just wait. It’s about to get much worse. While the Reserve Bank has been steadily yanking interest rates upwards this year, many of us have been comfortably insulated from the pain, until now. New Zealanders love a good one or two-year fixed mortgage. Those mortgages are coming up for renewal now – just as the Reserve Bank makes its steepest increase yet, an eye-watering 0.75%. It’s the highest single increase since the Official Cash Rate (OCR)...

More Economy

Westpac adds another rate cut to its forecasts
Economy

Westpac adds another rate cut to its forecasts

Westpac Bank now expects the official cash rate (OCR) to trough at 3% and has pushed back the timing of its forecast tightening cycle.“Downside risks from global growth suggest the RBNZ [Reserve Bank of New Zealand] may continue easing beyond May,” chief economist Kelly Eckhold s...

Rebecca Howard 09 May 2025
Rams Logistics owed $3.2m to IRD
Economy

Rams Logistics owed $3.2m to IRD

About 50 employees are owed approximately $760,000, the liquidators said.

Gregor Thompson 08 May 2025
Paul Bloxham: NZ's growth to stem worker outflow to Australia
Economy

Paul Bloxham: NZ's growth to stem worker outflow to Australia

HSBC's chief economist says NZ will benefit from Chinese economic pivot.

Capital requirements review doesn't mean they are too high
Economy

Capital requirements review doesn't mean they are too high

The Reserve Bank of NZ is not committed to any one particular outcome. 

Rebecca Howard 07 May 2025