Markets fall on Fed's emergency rate cut

Markets fall on Fed's emergency rate cut
Rebecca Howard
Local shares are expected to fall after the US Federal Reserve cut rates by 50 basis points to shield its economy from the coronavirus and  G-7 finance ministers and central bank governors said they will use “all appropriate policy tools” to maintain sustainable growth. The Fed’s target range is now between 1 percent and 1.25 percent and Fed chair Jerome Powell said the move was in line with a global wave of central bank policy action. The G-7 statement "does reflect coordination at a high level,” he said.Yesterday, the Reserve Bank o...

More Economy

From boom to gloom: Fitch doubts future NZ growth
Economy

From boom to gloom: Fitch doubts future NZ growth

Who knows whether NZ will be downgraded, but economic conditions do not look great.

Productivity drops for SMEs – Xero
Economy

Productivity drops for SMEs – Xero

Xero's report paints a particularly grim picture for the hospitality sector.

Migrant departures hit record high
Economy

Migrant departures hit record high

Stats NZ figures show 130,600 departures for the April 2024 year, up 34% from a year ago.

Staff reporters 12 Jun 2024
Willis calls for select committee inquiry into banking
Finance

Willis calls for select committee inquiry into banking

She wants the Finance and Expenditure and Primary Production Committees to join forces.

Rebecca Howard 12 Jun 2024