Economy
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Economy
ANZ Bank economists expect OCR to go to 2.5%
ANZ economists now expect the Reserve Bank of New Zealand will have to cut the official cash rate to 2.5% as the economic recovery progresses at a slower-than-expected pace.They had previously forecast that the Reserve Bank of NZ (RBNZ) would pause at 3%. The rate is currently si...
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Economy
RBNZ's funding for op expenses slashed in new agreement
The Government and the Reserve Bank of New Zealand board have agreed upon a funding agreement that will reduce budgeted operating expenses for the bank by about 25% in the coming year, Finance Minister Nicola Willis says. “The bank initially sought funding of $1.03 billion for th...
Economy
The cost of over-regulated banking: $10b to $14.4b a year
Critics claim a huge annual cost from 30 years of regulatory creep.
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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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