Economy
Explore the latest economy news by BusinessDesk
Retail
Kiwis splash out on travel, food in April as card spending rises
By Rebecca Howard May 10 (BusinessDesk) - Spending on credit and debit cards increased in April as people took advantage of the extended holiday period to travel and eat out more. Seasonally-adjusted card spending increased 0.6 percent in April after a 0.2 percent dip in M...
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Policy
Govt opens low-carbon summit with $47M commitment to new energy research
By Pattrick Smellie May 9 (BusinessDesk) - The government will invest $27 million to establish a new energy centre in Taranaki as a gesture towards assisting the region's transition from a multi-billion dollar oil and gas industry to a low-carbon economy. Prime Minister Jac...
Finance
Economists say more RBNZ rate cuts are coming
By Rebecca Howard May 8 (BusinessDesk) - The Reserve Bank of New Zealand cut rates by 25 basis points to a record low 1.5 percent and economists expect it to cut again. Changes to the central bank’s forecasts in the latest monetary policy statement now show a chance for an...
Finance
NZ central bank cuts rates, signals more to come
By Rebecca Howard May 8 (BusinessDesk) - The Reserve Bank cut the official cash rate by 25 basis points to 1.5 percent and signaled more cuts to come. The New Zealand dollar fell. "The Monetary Policy Committee decided a lower OCR is necessary to support the outlook for em...
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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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