The RBNZ looks to have one more hike up its sleeve

The RBNZ looks to have one more hike up its sleeve
RBNZ takes a hawkish view of the interest rate track. (Image: Getty)
Rebecca Howard
Chances are very good that New Zealand’s central bank has one more rate hike up its sleeve.“The watch, worry and wait now has a 'willing' sitting in there as well,” Reserve Bank of NZ (RBNZ) governor Adrian Orr told media after keeping rates on hold at 5.5%. Wednesday’s monetary policy statement took markets by surprise when the central bank lifted its forecast interest rate track and clearly said it would hike again if necessary. The market had been expecting it to lower the track and had even been pri...

More Economy

Weaker than expected jobs data won't move the rate cut dial
Economy

Weaker than expected jobs data won't move the rate cut dial

The March quarter jobs data was gloomier than expected.

Rebecca Howard 01 May 2024
Cautious lending keeps lid on default rates – Reserve Bank
Finance

Cautious lending keeps lid on default rates – Reserve Bank

Non-performing mortgages have overtaken Covid levels.

Jem Traylen 01 May 2024
Business confidence still falling
Economy

Business confidence still falling

Business confidence fell eight points to 15 in the latest ANZ NZ Business Outlook survey as cost pressures continue to bite. According to Westpac Bank senior economist Satish Ranchhod, a net 20% of firms reported their trading activity has declined over the past year. “That’s the...

Staff reporters 30 Apr 2024
Returning GST to councils would cover 'infrastructure cost increases' to councils
Economy

Returning GST to councils would cover 'infrastructure cost increases' to councils

Returning GST to councils would help councils out a lot, Infometrics says.

Dileepa Fonseka 30 Apr 2024