Jobs data keep RBNZ on track to cut by 50bps in Feb

Jobs data keep RBNZ on track to cut by 50bps in Feb
RBNZ Governor Adrian Orr. (Image: BusinessDesk)
Rebecca Howard
The December quarter jobs data will keep the Reserve Bank on track to cut the Official Cash Rate by 50 basis points to 3.75% this month.Stats NZ on Wednesday said the seasonally adjusted unemployment rate hit 5.1% in the December quarter versus 4.8% in the September quarter. It was a four-year high.It is also above the 25-year average of 4.8%, according to Craigs Investment Partners investment director Mark Lister.The total employment rate was 67.4% versus 69% a year ago and 67.7% in the September quarter. It was the largest annual fall in...

More Economy

RBNZ assistant governor resigns
Economy

RBNZ assistant governor resigns

The announcement comes just weeks after governor Adrian Orr suddenly quit.

John Anthony 17 Apr 2025
Annual inflation lifted 2.5% in the first quarter
Economy

Annual inflation lifted 2.5% in the first quarter

The lift was a tad higher than RBNZ forecasts. 

Staff reporters 17 Apr 2025
Slight inflation lift won't stop rate cuts thanks to trade war
Economy

Slight inflation lift won't stop rate cuts thanks to trade war

Most economists expect annual inflation lifted to 2.4% in 1Q.

Rebecca Howard 17 Apr 2025
TTR files fast-track application to mine Taranaki sand
Primary Sector

TTR files fast-track application to mine Taranaki sand

Seabed mining firm Trans-Tasman Resources has lodged its application to fast-track its project to harvest iron sands off the coast of Taranaki. The firm's parent company, Manuka Resources, told the Australian Securities Exchange (NZX) on Wednesday that the application was lod...

Staff reporters 16 Apr 2025