Economy
Explore the latest economy news by BusinessDesk
Finance
RBNZ confident steep rate cut, government largesse will jump-start economy
By Rebecca Howard Aug. 7 (BusinessDesk) - New Zealand's central bank is confident its 50 basis point rate cut coupled with the government's spending programme will be enough to jump-start the economy, but economists are sceptical. "We believe the Reserve Bank is more hopefu...
Economy sponsored by
Worldline
Worldline is NZ’s most experienced paytech, revolutionising how kiwis pay instore, online and with mobile payment solutions.
Markets
NZ dollar tanks after RBNZ slashes rates to fire economy
By Jenny Ruth Aug. 7 (BusinessDesk) - The New Zealand dollar tanked after the Reserve Bank surprised the market by cutting its official cash rate by 50 points rather than the 25 points most were expecting. The kiwi was trading at 63.95 US cents at 5pm in Wellington, above t...
Finance
UPDATE: ASB lifts annual profit 8% but says underlying growth was subdued
(Adds further comment and reworks story throughout, corrects transposition of CBA’s net profit) By Jenny Ruth Aug. 7 (BusinessDesk) - ASB Bank’s chief executive says she’s more focused on forward business conditions than on resting on the laurels of producing an 8 percent a...
Finance
UPDATE: RBNZ slashes cash rate to 1%, dollar tumbles
(Updates with detail throughout) By Rebecca Howard Aug. 7 (BusinessDesk) - The Reserve Bank slashed the official cash rate by 50 basis points to 1 percent due to a softer outlook for employment and inflation, slower economic growth and weaker global conditions. The New Zeal...
Prev
Pattrick Smellie
Founding Editor
Pattrick was judged New Zealand's best overall columnist and business columnist of the year at the Voyager 2021 Media Awards. He has more than 35 years’ experience reporting and working in New Zealand politics and the commercial sector. A former Press Gallery chairman, he is an award-winning journalist and has worked for titles including The Dominion, The Press, Sunday Star-Times and National Business Review. He was the first NZ correspondent for The Australian and co-founded BusinessDesk in 2008.
Followers will be emailed
articles by Pattrick