Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Business As Usual For The Reserve Bank

“Today’s Monetary Policy Statement by the Governor of the Reserve Bank holds few surprises”, said Simon Carlaw Chief Executive of the New Zealand Manufacturers Federation. Mr Carlaw was commenting on the latest Monetary Policy Statement which sees the OCR move to 5.75 percent.

“This is perhaps a pity as the Bank’s position seems to have changed little over the past three months despite the signing of a new Policy Targets

Agreement with the Minister of Finance. The Bank is still looking to respond to short-term economic changes such as an increase in commodity prices rather than taking a longer term approach to the economy.

“The Reserve Bank still believes the new rate stimulatory but this view flies in the face of declining business confidence in the manufacturing sector. The Bank is also expecting import growth to decline sharply, but there is little evidence of this yet with tariff cuts expected on 1 July and ongoing strong growth in imports from China.

“Perhaps most significantly the Reserve Bank does not appear to have built into its forecasts the impact of some new Government policies on business confidence and investment intentions.”

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

'Unprecedented' Conditions: Genesis Coal Burn 5-Yr High

Coal-fired generation from Genesis Energy’s Huntly operations was the highest in more than five years in the December quarter, as a combination of low hydro storage and plant outages were compounded by tight natural gas supplies. More>>

ALSO:

Climate Summary: NZ’s Equal-2nd Warmest Year On Record

Annual temperatures were above average (+0.51°C to +1.20°C above the annual average) across the majority of New Zealand... 2018 was the equal 2nd-warmest year on record for New Zealand, based on NIWA’s seven-station series which began in 1909. More>>

ALSO:

GDP: Economic Growth Dampens In The September Quarter

Gross domestic product (GDP) rose 0.3 percent in the September 2018 quarter, down from 1.0 percent in the previous quarter, Stats NZ said today... GDP per capita was flat in the September 2018 quarter, following an increase of 0.5 percent in the June 2018 quarter. More>>

ALSO:

Up $1.20: $17.70 Minimum Wage For 2019

Coalition Government signals how it will move toward its goal of a $20 p/h minimum wage by 2021... “Today we are announcing that the minimum wage will increase to $17.70 an hour on 1 April 2019." More>>

ALSO: