RBNZ opens the door to another rate hike

RBNZ opens the door to another rate hike
The battle with inflation could be a long one. (Image: Getty)
Rebecca Howard
New Zealand’s central bank is still worried about inflation, and its latest monetary policy statement opens the door to another hike with rates staying higher for longer. While the current level of activity constrains spending and hence inflation, “there is a risk that activity and inflation measures do not slow as much as expected,” the monetary policy committee said.“It is assumed that the official cash rate [OCR] will need to remain at around its current level for slightly longer than was assumed in the May state...

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