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


Manufacturing Exporters Welcome Reserve Bank Stay

Media Release 15 September 2005

Manufacturing Exporters Welcome Reserve Bank Stay on Interest Rates

With the high New Zealand dollar squeezing exporters and causing a blow out in the current account deficit, the news that the Reserve Bank of New Zealand has held interest rates is greatly welcomed, especially by exporting manufacturers,” according to Alasdair Thompson, Chief Executive, Employers & Manufacturers Association (Northern).

“The slowing economy does not need to be crunched into recession.

“However, irrespective of the outcome of the election, there will be a considerable loosening of fiscal policy from either increased spending (Labour) or tax cuts (National) and that could well put pressure on interest rates going forward.

“In the meantime we all have to accept that oil prices have risen causing downstream price increases (inflation) which means we’re all that much worse off. That fact cannot be changed by monetary policy,” concluded Mr Thompson.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Mycoplasma Bovis: More Properties Positive

One of the latest infected properties is in the Hastings district, the other three are within a farming enterprise in Winton. The suspect property is near Ashburton. More>>


Manawatū Gorge Alternative: More Work Needed To Choose Route

“We are currently working closely and in partnership with local councils and other stakeholders to make the right long-term decision. It’s vital we have strong support on the new route as it will represent a very significant long-term investment and it will need to serve the region and the country for decades to come.” More>>


RBNZ: Super Fund Chief To Be New Reserve Bank Governor

Adrian Orr has been appointed as Reserve Bank Governor effective from 27 March 2018, Finance Minister Grant Robertson says. More>>


ScoopPro: Helping PR Professionals Get More Out Of Scoop has been a fixture of New Zealand’s news and Public Relations infrastructure for over 18 years. However, without the financial assistance of those using Scoop in a professional context in key sectors such as Public Relations and media, Scoop will not be able to continue this service... More>>

Insurance: 2017 Worst Year On Record For Weather-Related Losses

The Insurance Council of New Zealand (ICNZ) announced today that 2017 has been the most expensive year on record for weather-related losses, with a total insured-losses value of more than $242 million. More>>