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

 

Property Institute Welcomes Interest Rate Drop

Wednesday 14 November 2001

The New Zealand Property Institute (NZPI) today welcomed The Reserve Banks move to cut the Official Cash Rate (OCR) from 5.25 per cent to 4.75 per cent.

New Zealand Property Institute CEO, Conor English said today, "In September we welcomed Dr Brash's half percent cut but said at the time we didn't believe it was enough and we called for further reductions. This move today is therefore welcomed.

"It is an uncertain world out there, but what seems reasonably clear is that inflation does not appear to be on the rampage.

"New Zealand has approximately $428 billion invested in property assets and property is a major contributor to GDP and growth.

"How our property asset performs has a significant impact on the economy. It is therefore important that New Zealand gets the monetary policy balancing act right and is not too out of step with other central banks around the globe.

"We look forward to seeing what impact this sensible move of Dr Brashs' has on the NZPI Confidence Indicator (measures confidence in the property and construction sectors), due out shortly ," Mr. English concluded.

http://www.propery.org.nz for NZPI Confidence Index details.


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Elsewhere:


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>