US and NZ economic prospects brighten as Christmas approaches

US and NZ economic prospects brighten as Christmas approaches
Jenny Ruth
The prospects for both the domestic and United States economies appear to be brightening, with the proviso that the US and China make tangible strides to resolving their trade war. On the local front, the government's half-year economic and fiscal update due on Wednesday will be the major event while the Federal Reserve will be announcing its last decision on monetary policy after the US economy added far more jobs than expected in the past three months, driving the unemployment rate back to 50-year lows. In New Zealand, the HYEFU will co...

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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,...

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RBNZ could hint cuts may come sooner
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The RBNZ will announce its latest decision at 2pm on Wednesday. 

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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