Politics

FIRST CUT: RBNZ cuts OCR by 50 basis points to 1%
Finance

FIRST CUT: RBNZ cuts OCR by 50 basis points to 1%

By Rebecca Howard Aug. 7 (BusinessDesk) - The Reserve Bank slashed the official cash rate by 50 basis points to 1 percent due to a softer outlook for employment and inflation, slower economic growth and weaker global conditions. The New Zealand dollar tumbled.  "Our actions...

Rebecca Howard 07 Aug 2019
NZ dollar under pressure ahead of widely expected rate cut
Finance

NZ dollar under pressure ahead of widely expected rate cut

By Rebecca Howard Aug. 7 (BusinessDesk) - The New Zealand dollar remained under pressure after a soft dairy auction and ahead of the central bank’s rate decision. The kiwi was trading at 65.28 US cents at 7:55 am in Wellington versus 65.29 cents at 5pm. The trade-weighted i...

Rebecca Howard 06 Aug 2019
Inflation expectations push lower in RBNZ survey
Finance

Inflation expectations push lower in RBNZ survey

By Rebecca Howard Aug. 6 (BusinessDesk) - Business managers and finance professionals lowered their inflation expectations in the latest Reserve Bank survey. Respondents to the central bank's quarterly survey predict consumer price inflation of 1.71 percent a year from now...

Rebecca Howard 06 Aug 2019
Solid jobs numbers won't sway RBNZ - economists
Finance

Solid jobs numbers won't sway RBNZ - economists

By Rebecca Howard Aug. 6 (BusinessDesk) - New Zealand’s unemployment rate hit an 11-year low, but economists say the data won’t put off tomorrow’s widely expected rate cut and most say it doesn’t change anything down the track. The central bank is expected to cut rates by 2...

Rebecca Howard 06 Aug 2019


Pattrick Smellie
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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