Sluggish global recovery NZ's biggest economic challenge - Orr

Sluggish global recovery NZ's biggest economic challenge - Orr
Rebecca Howard
Reserve Bank governor Adrian Orr told a parliamentary committee the biggest covid-19 challenge for New Zealand is going to be a “sluggish” bounce back in global demand.New Zealand – like Australia – is highly reliant on foreign capital, highly reliant on foreign trade and “the real driving part of this particular economic challenge is domestic demand around the world,” he told Parliament’s epidemic response committee.“The demand, in particular with the labour market displacement and the uncertainty around household wealth, will mean a bounce ba...

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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
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The RBNZ will announce its latest decision at 2pm on Wednesday. 

Rebecca Howard 08 Jul 2024
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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