RBNZ fires up the printing press, kicks off QE

RBNZ fires up the printing press, kicks off QE
Rebecca Howard
The Reserve Bank of New Zealand fired up its printing press this week, kicking off its first-ever quantitative easing - and it's coming back for even more.QE is sometimes called “printing money” because essentially the central bank creates the funds it needs to buy government bonds on the secondary market. The central bank bought $500 million across the yield curve.Earlier this week, the RBNZ announced plans to buy $30 billion of government bonds over the next 12 months as part of a massive stimulus effort to mitigate the devastating impac...

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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