Jobs data unlikely to ruffle RBNZ's feathers

Jobs data unlikely to ruffle RBNZ's feathers
Rebecca Howard
Wage growth hit a 10-year high in the September quarter, but it won’t offer much relief to the Reserve Bank as it was all down to pay settlements.Public and private sector wage inflation - as measured by the labour cost index - rose a quarterly 0.8 percent and an annual 2.4 percent. It was the largest annual increase since the June 2009 quarter, Stats NZ said.However, if a lift in the minimum wage and a series of pay settlements were stripped out, the annual lift would have been a more modest 1.8 percent. That number continues to point to tepid...

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