The RBNZ looks to have one more hike up its sleeve

RBNZ takes a hawkish view of the interest rate track. (Image: Getty)

Thu, 30 Nov 2023

Chances are very good that New Zealand’s central bank has one more rate hike up its sleeve.“The watch, worry and wait now has a 'willing' sitting in there as well,” Reserve Bank of NZ (RBNZ) governor Adrian Orr told media after keeping rates on hold at 5.5%. Wednesday’s monetary policy statement took markets by surprise when the central bank lifted its forecast interest rate track and clearly said it would hike again if necessary. The market had been expecting it to lower the track and had even been pri...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Stay informed on business, government and financial developments across New Zealand.
Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].interval) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Technology

China officials discuss option of TikTok sale to Elon Musk

Beijing’s leaders have denounced US ban threat

The Wall Street Journal 8:57am

Retail

Price shakeup for cigarette brand

Cigarette prices typically go up each year. Not in this case.

Oliver Lewis 5:00am

Du Val

Best of BusinessDesk: Du Val investor's $150,000 stake

“They want sophisticated investors … I was neither."

Garth Bray 5:00am

Best of BusinessDesk: Du Val investor's $150,000 stake

Sponsored

Why Kiwis are embracing Bitcoin ETFs

The once hard-to-access investment option is becoming mainstream.

Smart

Sponsored

The AI tech revolutionising safety in high-risk NZ workplaces

Around forklifts and machinery, Viewtech detects danger instantly.

Viewtech

More Economy

Economy

Westpac records soft December retail spending

Despite a slight lift, Westpac data points to a soft end of year for household spending.Westpac’s retail tracker, released on Thursday, showed spending on Westpac-issued credit and debit cards was up 2% in December compared to last year. Westpac senior economist Satish Ranchhod...

Staff reporters 10:20am