Economy

Explore the latest economy news by BusinessDesk

Economists say more RBNZ rate cuts are coming
Rebecca Howard | Wed, 08 May 2019

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...

NZ central bank cuts rates, signals more to come
Rebecca Howard | Wed, 08 May 2019

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...

Short-term inflation expectations lift in RBNZ survey
Rebecca Howard | Tue, 07 May 2019

By Rebecca Howard May 7 (BusinessDesk) - Business managers and finance professionals lifted their short-term inflation expectations in the latest Reserve Bank survey but held their longer-dated view steady.  Respondents to the central bank's quarterly survey predict consume...

Treasury warns growth might be weaker than December forecast
Rebecca Howard | Mon, 06 May 2019

By Rebecca Howard May 6 (BusinessDesk) - Treasury says partial indicators suggest New Zealand's economic growth has been throttled back and may be lower than it forecast in the December half-year update. Among other things, the government's principal financial advisor point...

NZ commodity prices extend gain in April, March figures revised higher
Rebecca Howard | Mon, 06 May 2019

By Rebecca Howard May 6 (BusinessDesk) - New Zealand commodity prices lifted in April and were significantly higher in March than previously reported, ANZ Bank’s monthly commodity price index shows. The ANZ world commodity price index lifted 2.5 percent in April, following...

US earnings season adds weight to Fed's up-beat view
Jenny Ruth | Sun, 05 May 2019

By Jenny Ruth May 6 (BusinessDesk) - Corporate America is adding weight to the Federal Reserve's upbeat view of the US economy with about three-quarters of the S&P 500 Index companies that have reported so far beating earnings forecasts. With only about 50 companies still t...

Alliance expects African swine fever to support meat prices
Rebecca Howard | Thu, 02 May 2019

By Rebecca Howard May 2 (BusinessDesk) - Red meat cooperative Alliance Group said meat prices are strong as the African swine fever outbreak decimates Chinese pork production. Chief executive David Surveyor says meat prices are "generally quite solid at the moment" due to t...

UPDATE: NZ labour data has soft underbelly, will keep rate cut prospects alive
Rebecca Howard | Wed, 01 May 2019

By Rebecca Howard May 1 (BusinessDesk) - New Zealand’s unemployment rate nudged lower and annual wage inflation ticked slightly higher. But given the underlying softness, the data is unlikely to sway the central bank from either cutting rates next week or at least setting the...


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