Weak retail sales shows RBNZ policy is working: Orr

Weak retail sales shows RBNZ policy is working: Orr
RBNZ governor Adrian Orr said NZ won't go into recession. (Image: NZME)
Jenny Ruth
The weak retail sales data released on Thursday shows monetary policy is working but Reserve Bank governor Adrian Orr doesn’t expect the economy to go into recession.“It’s a good signal that monetary policy is working, that we’re doing our job,” Orr said during the interview with Bloomberg TV at Jackson Hole, Wyoming, where central bankers from around the world are gathered.“Our current view is, no, we won’t see a technical recession” because there was a reasonable rebound in economic activity in...

More Finance

Officials MIA on banking competition, say critics
Finance

Officials MIA on banking competition, say critics

Over-regulation of the banking sector is blamed for stifling competition.

Pattrick Smellie 20 Feb 2025
Heartland declares $49.6m impairment in NZ business
Finance

Heartland declares $49.6m impairment in NZ business

Heartland Group shares fell 12% in early trading.

Gregor Thompson 18 Feb 2025
Big banks scrubbing public mentions of DEI
Finance

Big banks scrubbing public mentions of DEI

Citigroup and others seek to avoid possible litigation and federal probes.

Toy entrepreneur quashes spec of NZME takeover
Finance

Toy entrepreneur quashes spec of NZME takeover

Zuru founder Nick Mowbray says a report speculating he could take over private media company NZME is wrong. On Friday morning, The Australian’s Data Room said “some wealthy Kiwis” were plotting to do something about the state of New Zealand’s media industry and cited Mowbray as a...

Victoria Young 14 Feb 2025