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

 

Decisive Interest Rate Cut Most Welcome

The cut to interest rates to 5.25 per cent is most welcome, said Alasdair Thompson, chief executive of the Employers & Manufacturers Association this morning.

"The cut will both calm the trading outlook and build confidence in the Reserve Bank's willingness to act quickly when required," Mr Thompson said.

"Business compliments Dr Brash on this decisive and timely response.

"But we are certain Dr Brash should make a further cut on or before October 3rd especially since the Federal Reserve yesterday slashed interest rates in the US down to three per cent.

"Nevertheless we are gratified the Bank has demonstrated it is prepared to act outside the timing of its scheduled announcements.

"The action was critical to help settle the anxiety building amongst our exporters and other traders.

"The cut should also underpin consumer confidence considerably."

Ends


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

"Broad-Based Growth": GDP Rises 1 Percent In June Quarter

Gross domestic product (GDP) rose 1.0 percent in the June 2018 quarter, up from 0.5 percent last quarter, Stats NZ said today. This is the largest quarterly rise in two years. More>>

ALSO:

Judicial Review: China Steel Tarrif Rethink Ordered

On 5 July 2017 the Minister determined not to impose duties on Chinese galvanised steel coil imports. NZ Steel applied for judicial review of the Minister’s decision. More>>

Debt: NZ Banks Accelerate Lending In June Quarter

New Zealand's nine major lenders boosted lending at the fastest quarterly pace in almost two years as fears over bad debts subsided. More>>

ALSO:

Balance Of Trade: Annual Current Account Deficit Widens To $9.5 Billion

New Zealand’s current account deficit for the year ended June 2018 widened to $9.5 billion, 3.3 percent of GDP, Stats NZ said today. More>>

ALSO: