News
What to expect from power prices in the coming year
3+ hour, 51+ min ago (400+ words) Consumer NZ is hopeful that electricity prices will improve in 2026, but does not expect much of a change. The consumer advocacy group says investments in generating electricity and recent rain and snowfall bolstering hydro supply could keep prices down. "We're…...
US Federal Reserve lowers interest rates for third time in a row
2+ week, 6+ day ago (1038+ words) The Federal Reserve on Wednesday (US time) lowered interest rates again in a continued effort to keep the labour market intact, despite objections from several key Fed officials who believe the central bank should be prioritising the higher cost of…...
First banks move after OCR cut
1+ mon, 5+ day ago (466+ words) Just minutes after the Reserve Bank revealed it would cut the official cash rate (OCR) by 25 basis points to 2.25 percent, advertised home loan rates started to drop. The Co-Operative Bank said it was dropping its floating home loan rate by…...
OCR cut to lowest level in three years
1+ mon, 5+ day ago (315+ words) The Reserve Bank has dropped the OCR to its lowest level in three years, down to 2.25%. Some home loan rates started to drop just minutes after the OCR cut of 25 basis points. The Reseve Bank says economic growth has "likely…...
Food prices up again with dairy and eggs more expensive
1+ mon, 2+ week ago (167+ words) Annual food inflation has edged higher, as rising grocery prices offset cheaper fruit and vegetables. Stats NZ's food price index rose 4.7 percent in the year ended October, from 4.1 percent the month before. Groceries, notably dairy products, eggs and instant coffee,…...
Is AI really coming for our jobs and wages? Past predictions of a ‘robot apocalypse’ offer some clues
1+ mon, 3+ week ago (716+ words) The robots were taking our jobs - or so we were told over a decade ago. The same warnings are regularly heard today about the likely impact of artificial intelligence (AI). Tech breakthroughs have long stirred fears of workplaces being wiped…...
Which banks most often have the lowest interest rates?
1+ mon, 3+ week ago (616+ words) Which bank consistently offers the lowest advertised home loan rates? And does it actually matter? Data compiled by economists Ed McKnight from Opes Partners shows that since August 2023, across all home loan rate terms, Westpac most often advertised the cheapest…...
Small business: Sales show slight rise but jobs down
2+ mon, 1+ day ago (401+ words) Small business sales posted their first quarterly rise in two and a half years, but small business jobs are still falling. The latest Xero Small Business Insights (XSBI) indicates sales rose by 1.9 percent in the three months ended September over…...
Reserve Bank chief economist Paul Conway defends money-printing during Covid pandemic
2+ mon, 2+ week ago (578+ words) The Reserve Bank's $53 billion money-printing policy during the pandemic paid for itself and helped keep the economy functioning at a time of stress, according to the central bank's chief economist. In a speech to a Sydney investment conference, Paul Conway…...
Nobel economics prize winners show 'growth cannot be taken for granted"
2+ mon, 2+ week ago (463+ words) By Simon Johnson, Reuters The 2025 Nobel economics prize has been awarded to two Americans and a Frenchman for "having explained innovation-driven economic growth", the Royal Swedish Academy of Sciences said on Monday. The prestigious award, formally known as the Sveriges…...