'Negative but temporary impact' from coronavirus, says Treasury

'Negative but temporary impact' from coronavirus, says Treasury
Pattrick Smellie
The coronavirus outbreak is provisionally forecast to knock between 0.2 percent and 0.3 percent off New Zealand's economic growth rate this year, Prime Minister Jacinda Ardern said after a briefing for the weekly Cabinet meeting on the potential impact of the illness that is disrupting global trade and travel. Announcing an $11 million allocation of additional tourism marketing to boost New Zealand as destination for both international and local travellers, Ardern said the Treasury now expects economic growth of between 2 percent and 2.5 per...

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NZIER's Shadow Board predicts RBNZ will hold, with one exception
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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
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The RBNZ will announce its latest decision at 2pm on Wednesday. 

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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