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

 

Up 0.5% In June Quarter: Services Lead GDP Growth

“Service industries, which represent about two-thirds of the economy, were the main contributor to GDP growth in the quarter, rising 0.7 percent off the back of a subdued result in the March 2019 quarter.” More>>

ALSO:

Pickers: Letter To Immigration Minister From Early Harvesting Growers

A group of horticultural growers are frustrated by many months of inaction by the Minister who has failed to announce additional immigrant workers from overseas will be allowed into New Zealand to assist with harvesting early stage crops such as asparagus and strawberries. More>>

ALSO:

Non-Giant Fossil Disoveries: Scientists Discover One Of World’s Oldest Bird Species

At 62 million-years-old, the newly-discovered Protodontopteryx ruthae, is one of the oldest named bird species in the world. It lived in New Zealand soon after the dinosaurs died out. More>>

Rural Employers Keen, Migrants Iffy: Employment Visa Changes Announced

“We are committed to ensuring that businesses are able to get the workers they need to fill critical skills shortages, while encouraging employers and regions to work together on long term workforce planning including supporting New Zealanders with the training they need to fill the gaps,” says Iain Lees-Galloway. More>>

ALSO:

Marsden Pipeline Rupture: Report Calls For Supply Improvements, Backs Digger Blame

The report makes several recommendations on how the sector can better prevent, prepare for, respond to, and recover from an incident. In particular, we consider it essential that government and industry work together to put in place and regularly practise sector-wide response plans, to improve the response to any future incident… More>>

ALSO: