Hot labour market to keep RBNZ on its toes

Seek.co.nz job ads hit a record in March (Image: Unsplash)

Wed, 13 Apr 2022

Hot inflation will be the headline when the Reserve Bank publishes its interest rate decision this afternoon but the tight labour market will also be under the microscope.The RBNZ has a dual mandate to keep inflation between 1% and 3% and to support maximum sustainable employment.Inflation is clearly outside the band, running at an annual 5.9% pace amid dire warnings from economists about how it will soon breach 7%.On the employment front, the RBNZ has already said it is above a “maximum sustainable” level, with the unemployment rat...

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 rises with gentailers leading

Electricity gentailers pumped energy into the NZX.

Tom Raynel 6:07pm

Primary Sector

NZ businessman Graeme Clegg remains detained in Vietnam

He's been diagnosed with cancer in his colon.

Riley Kennedy 5:10pm

NZ businessman Graeme Clegg remains detained in Vietnam

Law & Regulation

James Wallace is 'low risk, but not no risk' of reoffending

Why James Wallace remains under strict release conditions.

Garth Bray 1:00pm

James Wallace is 'low risk, but not no risk' of reoffending

Sponsored

Ready for the C-Suite leap?

Part-time programme. Full-time leadership transformation.

University of Auckland Business School

Sponsored

Active beats passive in tough times

Agile investing responds faster to market shocks and shifts.

Milford

More Economy

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 9:10am