News
On the canvas: Why the economy didn’t recover like it was supposed to – Liam Dann
2+ hour, 20+ min ago (1095+ words) Sylvester Stallone's lead character in the film Rocky faced his situation with a sense of realism New Zealand's politicians and public would do well to emulate in the current economic climate. Are you sick of waiting for the economic recovery…...
'Tsunami on way': Covid loan defaults near half a billion, pile pressure on small firms
3+ week, 6+ day ago (794+ words) Some 20,000 small- and medium-sized businesses have defaulted on $447 million worth of Covid-era government loans, according to new data from the Inland Revenue Department. The defaults represent nearly one fifth of the total value of the loans made under the Small…...
Has the Reserve Bank just put unhelpful upward pressure on mortgage rates?
1+ mon, 4+ day ago (756+ words) Opinion is divided over whether the Reserve Bank has hampered its own efforts to fire up the economy " again. The central bank cut the Official Cash Rate (OCR) by 25 basis points to 2.25% on Wednesday, as expected. However, its commentary, and…...
Inside Economics: View from across the Tasman, UBS takes a look at NZ economy
1+ mon, 4+ day ago (876+ words) Investment bank UBS has appointed a new economist to cover New Zealand. Sydney-based Stephen Wu recently joined UBS and has only been looking closely at New Zealand's economy for about four months. Wu raised the issue of the lack of…...
OCR Preview: Another rate cut coming - but will it be the last?
1+ mon, 1+ week ago (713+ words) With a 25-basis-point cut to the Official Cash Rate widely expected, much of the interest in this Wednesday's Monetary Policy Statement will be in the Reserve Bank's commentary and forecasts. Specifically, markets will be looking for clues as to how…...
Supermarket price squeeze puts NZ growers under pressure
1+ mon, 1+ week ago (1192+ words) By Monique Steele of RNZ The hunt for the cheapest fruit and vegetables by both supermarkets and shoppers is putting pressure on locally produced crops in New Zealand. Over the past few months, well-known brand Wattie's New Zealand of Hawke's…...
Mary Holm: Gold or shares – which one is better?
1+ mon, 3+ week ago (1860+ words) Q: I started investing in gold when I was 9, with one gold coin gifted by my aunt. During my working life, I remembered her advice to always ensure that part of my portfolio was in precious metals. I bought one-ounce gold…...
Bank cuts fixed-term mortgage rate with now-lowest 18-month deal
2+ mon, 1+ week ago (439+ words) ASB has cut its fixed-term mortgage rate again - its new 18-month rate of 4.45% puts the bank just ahead of its competitors. A new six-month rate of 4.85% is still higher than ANZ's 4.79% and Westpac's 4.99%. It is lower than BNZ's 4.89% and equal…...
Kiwis tightening wallets as cost pressures hit holiday spending plans
2+ mon, 1+ week ago (506+ words) Nearly half of Kiwi shoppers plan to spend less this holiday season, according to new research from buy-now-pay-later provider Afterpay, as the cost of living affects the traditional end-of-year retail spending period. Afterpay's Festive Forecast and Festive Lookback reports highlight…...
Nobel economist warns of AI dangers
2+ mon, 2+ week ago (538+ words) A winner of this year's Nobel prize in economics warned today that artificial intelligence offers "amazing possibilities" but should be regulated because of its job-destroying potential. The remarks from Canadian Peter Howitt, professor emeritus at Brown University in the United…...