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

Storms clouds are gathering for the economy
Economy

Storms clouds are gathering for the economy

March-quarter GDP lifted 0.8% on quarter.

Rebecca Howard 19 Jun 2025
Treasury expects growth in 2025 despite weak May data
Economy

Treasury expects growth in 2025 despite weak May data

Treasury is forecasting the GDP will grow 0.4% in 1Q with upside risk.

Rebecca Howard 18 Jun 2025
Modest rise in consumer confidence
Economy

Modest rise in consumer confidence

Consumer confidence continues to tread water, but households could soon receive a back-pocket boost of hundreds of dollars, says a Westpac economist.The Westpac McDermott Miller Consumer Confidence index rose two points to 91.2 in the June quarter.Westpac senior economist Satish...

Staff reporters 18 Jun 2025
Stats NZ to ditch paper-based Census from 2030
Economy

Stats NZ to ditch paper-based Census from 2030

Successive Censuses have been beset with issues, says minister.

Rebecca Howard 18 Jun 2025