Tight labour market will make 75 basis point rate hike inevitable

Tight labour market will make 75 basis point rate hike inevitable
The problem continues to be a lack of people to hire. (Image: Getty)
Rebecca Howard
New Zealand’s unemployment rate is widely tipped to fall in the third quarter and will add to the view the Reserve Bank of NZ (RBNZ) is poised to lift rates by another 75 basis points this month. The second quarter unemployment rate would be 3.2% versus 3.3% in the June quarter, according to the median of 15 economists in a Bloomberg poll.The main issue continues to be a lack of people to hire. The borders are open but, in the 12 months that ended in August 2022, there was a provisional net migration loss of 11,000, according to...

More Economy

ANZ survey: ‘The worst will soon be past’
Economy

ANZ survey: ‘The worst will soon be past’

ANZ-Roy Morgan's survey shows that consumer confidence bounced back from recessionary lows in July.“It’s still very low but has clawed back about half the March-April fall that coincided with ‘recession’ headlines. The lift was driven by improving expectations rather than the...

Staff reporters 26 Jul 2024
The kiwi dollar is falling prey to the bears
Economy

The kiwi dollar is falling prey to the bears

The only worst performer is the Norwegian krone.

Rebecca Howard 26 Jul 2024
Holidays Act: no vacation for taxpayers
Economy In-depth

Holidays Act: no vacation for taxpayers

Let's pay billions of dollars and get nothing new for it.

Nikitin Sallee 25 Jul 2024
Recession worries? Blame China's economic flu
Economy

Recession worries? Blame China's economic flu

Treasury's chief economic adviser says China's economic woes are being felt in NZ.

Dileepa Fonseka 25 Jul 2024