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

 


BNZ Weekly Overview

BNZ Weekly Overview

The key points of this week's publication include the following.

Things have been on the quiet side as far as data releases go over the past week and we've received no information to alter our central view. This is that growth will ease off over the coming year but at a gradual pace with good insulation from non-residential construction, infrastructure spending, easier fiscal policy, low fixed interest rates, good commodity prices (in the short term at least), good wealth built up in some areas, business capital expenditure, and firm trading partner growth. But inflation risks are high suggesting firm interest rates most of next year with fixed rates at risk of a large leap once United States rates rise more next year, and a firm NZ dollar most of 2005 but at risk of a large fall very late in the year if commodity prices fall away sharply – which is possible but will depend substantially on world growth and whether special price-boosting factors ebb away.

The main interesting things learnt over the past week include the following.

- The NZD has risen two cents against the Aussie dollar as the latter has fallen following weak economic data. Cross flows have caused the NZD to move higher also against a still falling greenback.

- Wholesale interest rates have fallen mainly on the back of the higher NZD and reduced prospects for higher interest rates across the Tasman.

- Construction activity remains at high levels with a slow decline in dwelling consents being offset by 40% annual growth in the value of commercial building consents.

*************

The completer Weekly Overview is freely available to all BNZ staff, customers, and the public with a centralised EMAIL ONLY distribution list. If you wish to add, change or delete an email address please reply to this message or email tony.alexander@bnz.co.nz. Sections of the WO may be reproduced by anyone other than mortgage brokers provided the BNZ is noted as the source.

If you fail to receive the WO in a week please go to www.bnz.co.nz and look for it under "About Us" on Friday afternoon. Failed emails will not be resent or requests for such answered given the workload involved.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

ALSO:

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news