Odds favour a rate cut but it's a line ball call

Odds favour a rate cut but it's a line ball call
Rebecca Howard
The odds are slightly in favour of an interest rate cut on Wednesday, but it’s by no means a done deal.The central bank cut the official cash rate by 50 basis points to 1 percent in August but remained on hold in September. Of 18 economists polled by Bloomberg, 12 are expecting the Reserve Bank's monetary policy committee to make a 25 basis-point cut to 0.75 percent while six are expecting the central bank to remain on hold.  Market pricing points to around a 64 percent chance of a cut.ASB economist Mark Smith is on the cut side of th...

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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,...

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. 

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