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


Maintaining Growth Is Critical

3 July 2002

The Reserve Bank's decision to again raise the OCR by 25 basis points reinforces the desirability of reviewing the Policy Targets Agreement following the appointment of a new Governor, Business NZ Chief Executive Simon Carlaw said.

"While the Reserve Bank has certainly dealt to inflation, its Australian counterpart has managed the balance between consistent economic growth and price stability better. Our Government should be looking hard at the reasons why this is so.

"Even though the Bank's focus is directed twelve or eighteen months out, it is difficult to ignore the emerging evidence of a significant shift in business and exporter confidence that is driven largely by the appreciation of the New Zealand dollar and continued uncertainty in our key global markets.

"It seems critical at this time to focus on maintaining growth and the key role of exporters in the economy rather than CPI assumptions that have been significantly under previous Reserve Bank forecasts," Mr Carlaw said.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Voluntary Administration: Renaissance Brewing Up For Sale

Renaissance Brewing, the first local company to raise capital through equity crowdfunding, is up for sale after cash flow woes and product management issues led to the appointment of voluntary administrators. More>>


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>>


Media Mega Merger: Full Steam Ahead For Appeal

New Zealand's two largest news publishers have confirmed they are committed to pursuing their appeal against the Commerce Commission's rejection of the proposal to merge their operations. More>>

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>>


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>>