RBNZ keeps OCR at 1.5%, signals more easing likely

RBNZ keeps OCR at 1.5%, signals more easing likely
Rebecca Howard
By Rebecca Howard June 26 (BusinessDesk) - The Reserve Bank kept the official cash rate at 1.5 percent and left the door open for further rate cuts as the outlook for the economy has softened since its assessment in May.  “Given the weaker global economic outlook and the risk of ongoing subdued domestic growth, a lower OCR may be needed over time to continue to meet our objectives," the central bank said in a statement.  All 20 economists polled by Bloomberg had expected the central bank to remain on hold. The New Zealand dollar lif...

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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
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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...

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Albanese pledges prosperity through manufacturing boost
Economy

Albanese pledges prosperity through manufacturing boost

Renewable energy and critical minerals key focus of $24 billion strategy.

AAP 04 Jul 2024