Economy
Explore the latest economy news by BusinessDesk
News in Brief
Westpac bank sees no rate cuts until early 2025
Westpac Bank has taken to heart the Reserve Bank’s message that rates may need to stay higher for longer.On Wednesday, the Reserve Bank of NZ (RBNZ) kept the official cash rate (OCR) on hold at 5.5% and said interest rates “may need to remain at a restrictive level for a more sus...
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Energy
Oil demand, weak NZ dollar could mean more pain at the pump
Analysts are divided over whether oil will break through US$100 a barrel.
Economists say no-change OCR comes as no surprise
But will the official cash rate move after the election?
Markets
‘Mixed bag’: Westpac on election's market impact
The bank doesn’t think the election will change the big-picture outlook.
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Pattrick Smellie
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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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