News
NZ PSI hits 50.6 as hospitality slumps to 36.3
2+ hour, 32+ min ago (784+ words) The BNZ-BusinessNZ Performance of Services Index rose to 50.6 in June, up from 48.0 in May and 48.9 in April. On paper that is good news. It is the first reading above the 50.0 line separating expansion from contraction since January, meaning the sector…...
NZ bankruptcy figures mask 450,000 in arrears
4+ day, 7+ hour ago (220+ words) New Zealand’s personal insolvency numbers are falling, and on paper that reads like good news. Formal proceedings have dropped from more than 3,000 a year in 2017/18 to fewer than 1,500 in 2024/25, covering bankruptcy, no asset procedures and debt repayment orders administered by…...
NZ building warranty rules need insurer competition
2+ week, 1+ day ago (410+ words) The minimum cover is a one-year defects period and a 10-year structural warranty. It is a coherent piece of policy. But it rests entirely on a market that, right now, barely exists. The case for action is hard to argue…...
Bank of England expected to hold rates as inflation risks linger
3+ week, 4+ day ago (474+ words) The Bank of England is expected to leave interest rates unchanged this week as policymakers weigh easing energy market fears against the risk that inflation could climb again over the summer. Economists widely expect the Monetary Policy Committee to keep…...
NZ inflation forecast above 4% as grocery cost shock still loading
4+ week, 1+ day ago (506+ words) The range is 4.0 to 4.8%. There is no credible forecast below 4%. The inflation fight that many businesses assumed was winding down has reversed course entirely. The trigger is the Iran conflict and the effective closure of the Strait of Hormuz. Stats…...
NZ inflation expectations near 5% threaten RBNZ rate cuts
1+ mon, 1+ week ago (562+ words) New Zealand households have been expecting inflation of close to 5% over the next year and roughly 4% over two years. Both figures sit well above the Reserve Bank’s 2% midpoint target, and the gap is not closing fast enough to give policymakers…...
OCR held at 2.25%, but further rises “highly likely”
1+ mon, 2+ week ago (497+ words) Reserve Bank Governor Anna Breman says further interest rate hikes are “highly likely” after using her deciding vote to break a deadlocked three-three split and keep the official cash rate unchanged at 2.25%. The Reserve Bank’s Monetary Policy Committee voted to…...
RBNZ expected to keep OCR at 2.25%
1+ mon, 2+ week ago (386+ words) The Reserve Bank is expected to hold the Official Cash Rate (OCR) at 2.25%, as it continues to weigh the need to support economic activity against the risk of rising inflation linked to escalating tensions in the Middle East. BNZ head…...