Economy
Explore the latest economy news by BusinessDesk
UPDATE: RBNZ keeps OCR at 1% but November cut may be off the cards
(Recasts lead and updates to add comment from economists, detail throughout) By Rebecca Howard Sept. 25 (BusinessDesk) - The Reserve Bank of New Zealand kept interest rates on hold at 1 percent as expected and the Kiwi dollar rose as a November rate cut - while possible - m...
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Primary Sector
NZ August trade deficit tad wider than expected on more imports
By Rebecca Howard Sept. 25 (BusinessDesk) - New Zealand’s August trade deficit was $1.6 billion, slightly wider than economists had expected, as imports came in higher than forecast. Economists polled by Bloomberg had expected a monthly deficit of $1.4 billion and an annual...
Markets
NZ dollar bounces off four-year low; seen weaker
By Jenny Ruth Sept. 23 (BusinessDesk) - The New Zealand dollar rose but remained near a four-year low as optimism for a trade deal between the United States and China fades. The kiwi was trading at 62.74 US cents at 5:05pm in Wellington from 62.58 at 7:45am. The trade-weigh...
Policy
Govt moves against surprise Supreme Court 'black hole' tax ruling
By Pattrick Smellie Sept. 23 (BusinessDesk) - The government confirmed today it will legislate to return the tax deductible status of feasibility study spending after a surprise Supreme Court ruling three years ago up-ended the Inland Revenue Department's advice on the issue....
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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.
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