Inflation stirred into life before covid-19 clobbering

Inflation stirred into life before covid-19 clobbering
Rebecca Howard
New Zealand’s inflation was finally showing signs of life before it got clobbered by covid-19.Consumer prices lifted 0.8 percent during the quarter, bringing annual inflation to 2.5 percent. That was the highest annual measure since September 2011 when it was 4.6 percent.  ASB senior economist Mark Smith said that not only was inflation stronger than expected but it probably would have put a rate hike on the table were it not for the coronavirus pandemic.The central bank cut the official cash rate by 75 basis points to...

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NZIER's Shadow Board predicts RBNZ will hold, with one exception
Economy

NZIER's Shadow Board predicts RBNZ will hold, with one exception

The New Zealand Institute of Economic Research’s Shadow Board expects the Reserve Bank of NZ to hold the official cash rate at 5.5% for another year, although one member did call for a hike this week. “While inflation pressures are still high and the labour market remains strong,...

Rebecca Howard 08 Jul 2024
RBNZ could hint cuts may come sooner
Economy

RBNZ could hint cuts may come sooner

The RBNZ will announce its latest decision at 2pm on Wednesday. 

Rebecca Howard 08 Jul 2024
Briscoe Group says tax changes will hit FY net profit by $7.4m
Retail

Briscoe Group says tax changes will hit FY net profit by $7.4m

New legislation affects depreciation on commercial buildings.  

Rebecca Howard 05 Jul 2024
Core Crown tax revenue higher than expected in May accounts
Economy

Core Crown tax revenue higher than expected in May accounts

Government tax intake is $1.57 billion higher than forecast, according to the latest Crown accounts.Treasury released the interim financial statements for the 11 months ended May 31 on Wednesday morning, which showed core Crown tax revenue was $111.12b.This was 1.4% more than the...

Staff reporters 04 Jul 2024