Economy

New Zealand economy contracts in Q2, door open for more rate cuts

New Zealand's economy shrank in the second quarter, with declines in several major industries, which suggests the central bank may proceed with further rate cuts this year.

Economy

Housing construction decline underscores recession risk

New Zealand's residential construction activity dropped to a four-year low last quarter, suggesting the economy may be entering another recession.

Business

New Zealand’s business confidence hits 10-year top

Business confidence has reached its highest point in 10 years, as reported by the ANZ Business Outlook survey for August.

Economy

New Zealand economy contracts in Q2, door open for more rate cuts

New Zealand's economy shrank in the second quarter, with declines in several major industries, which suggests the central bank may proceed with further rate cuts this year.

Economy

Housing construction decline underscores recession risk

New Zealand's residential construction activity dropped to a four-year low last quarter, suggesting the economy may be entering another recession.

Business

New Zealand’s business confidence hits 10-year top

Business confidence has reached its highest point in 10 years, as reported by the ANZ Business Outlook survey for August.

Economy

RBNZ announces first rate cut since March 2020

The Reserve Bank of New Zealand (RBNZ) has reduced its benchmark interest rate for the first time since March 2020 and indicated that further cuts may be forthcoming in the months ahead.

Economy

Unemployment rises less than forecast in New Zealand in Q2

The jobless rate in New Zealand increased less than forecast in Q2 as the country’s economy unexpectedly increased its workforce even though the outlook was less optimistic.

Economy

July’s business confidence jumps in New Zealand, says ANZ survey

New Zealand’s business confidence rose 21 points to +27 in July, whilst businesses’ expectations for their own activity edged up 4 points to +16.

Economy

New Zealand inflation slows down to 3-year low

Inflation in New Zealand slowed more than anticipated in Q2 to its weakest in three years, despite ongoing domestic price pressures.

Economy

RBNZ holds cash rate steady at 5.5%

The Reserve Bank of New Zealand (RBNZ) held the cash rate steady at 5.5% on Wednesday, but indicated a potential easing of monetary policy over time if inflation decelerates as anticipated.

Markets

New Zealand house prices fall in June for third straight month

House prices in New Zealand declined for the third consecutive month in June, facing pressure from high interest rates that are prompting buyers to stay on the sidelines.

Economy

Treasury seeks more spending cuts and revenue hikes in weak economy

Secretary Caralee McLiesh says the Treasury Department of New Zealand is investigating additional measures to lower government spending and raise revenue despite ongoing declines in tax receipts due to the sluggish economy.

Economy

Inflation progress is being made, says RBNZ chief economist

Chief economist at the Reserve Bank of New Zealand (RBNZ), Paul Conway has said that significant progress is being made to return inflation to its target.

Economy

RBNZ announces first rate cut since March 2020

The Reserve Bank of New Zealand (RBNZ) has reduced its benchmark interest rate for the first time since March 2020 and indicated that further cuts may be forthcoming in the months ahead.

Economy

Unemployment rises less than forecast in New Zealand in Q2

The jobless rate in New Zealand increased less than forecast in Q2 as the country’s economy unexpectedly increased its workforce even though the outlook was less optimistic.

Economy

July’s business confidence jumps in New Zealand, says ANZ survey

New Zealand’s business confidence rose 21 points to +27 in July, whilst businesses’ expectations for their own activity edged up 4 points to +16.

Economy

New Zealand inflation slows down to 3-year low

Inflation in New Zealand slowed more than anticipated in Q2 to its weakest in three years, despite ongoing domestic price pressures.

Economy

RBNZ holds cash rate steady at 5.5%

The Reserve Bank of New Zealand (RBNZ) held the cash rate steady at 5.5% on Wednesday, but indicated a potential easing of monetary policy over time if inflation decelerates as anticipated.

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