Menu
Menu
Search
Search
Search
Home

RBNZ hikes by 25 basis points to 5.5%

RBNZ hikes by 25 basis points to 5.5%
NZD takes a tumble (Image: BusinessDesk)
Rebecca Howard
Rebecca Howard
Wed, 24 May 2023
The Reserve Bank of New Zealand lifted the official cash rate by 25 basis points to 5.5% and indicated it is done for now.“The committee agreed the level of interest rates is constraining spending and inflation pressure,” it said in a statement.It is “confident” that with interest rates remaining at a restrictive level for some time, consumer price inflation will return to within its target range of 1-3% per annum, while supporting maximum sustainable employment.According to the record of the meeting, the committee voted...
Economy sponsored by
Worldline is NZ’s most experienced paytech, revolutionising how kiwis pay instore, online and with mobile payment solutions.
Perennial asset class learnings
Opinion

David Chaplin: Perennial asset class learnings

The demand for private equity (of multiple shades) and private debt is soaring.

David Chaplin 5:00am
Infrastructure

From trainee priest to ferry finder chair

Is there anything Chris Mackenzie hasn't done?

Oliver Lewis 5:00am
From trainee priest to ferry finder chair
Markets

Ebos' cash raise reflects healthy M&A pipeline: analysts

Acquisition of SVS Veterinary Supplies won't move the needle but is solid.

Rebecca Stevenson 5:00am
Ebos' cash raise reflects healthy M&A pipeline: analysts

More Economy

Property, rentals and hiring attract greatest IRD scrutiny
Economy

Property, rentals and hiring attract greatest IRD scrutiny

Blitz has reaped more than $600m in undeclared tax from taxpayers.

Denise McNabb 5:00am
Retail spending 'much weaker' than expected
Economy

Retail spending 'much weaker' than expected

Westpac senior economist Satish Ranchhod says retail spending in March was "much weaker than expected".The total value of electronic card spending, including in non-retail services and other non-retail categories, fell a seasonally-adjusted 1.49% to $9.08 billion in March from Fe...

Staff reporters 14 Apr 2025
The unlikely way Trump is helping
Economy Opinion

Pattrick Smellie: The unlikely way Trump is helping

The Trump tariff blitz is creating political opportunity in unlikely places.

Pattrick Smellie 14 Apr 2025
Manufacturing sector keeping head above water
Economy

Manufacturing sector keeping head above water

New Zealand’s manufacturing sector remained in expansionary territory for a third consecutive month, according to the latest BNZ – BusinessNZ Performance of Manufacturing Index (PMI). The seasonally adjusted PMI for March was 53.2, down from 54.1 in February.  A number above 50 m...

Rebecca Howard 11 Apr 2025