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

 


No OCR change from RBNZ

No OCR change from RBNZ - 31 January

Yesterday the Reserve Bank of New Zealand (RBNZ) announced the OCR would remain unchanged at 2.5%.  This supports manufacturers and exporters, an increase at this point would add further upwards pressure to our already overvalued currency say the New Zealand Manufacturers and Exporters Association (NZMEA). 

NZMEA Chief Executive John Walley says, “Any downwards movement in the currency is welcome, and generally keeping something of a lid on our currency is important to perhaps avoid ever greater imbalances between the tradable and non-tradable sectors.”

“Our overvalued currency needs policy attention in order to promote economic rebalancing in New Zealand.  David Cunliffe has made some commitments to review monetary policy so far.  We hope this discussion will continue in the run up to the election, and that other political parties are challenged to see this as a critical issue worthy of serious debate.”

“Bill English continues to make comments around the need for economic rebalancing between our tradable and non-tradable sectors.  Better policy aimed at supporting our external sector is a necessary step in such rebalancing.”

“Whatever happens with monetary policy here, we must try and accommodate what is happening elsewhere, particularly in the USA and Australia.”

“The bank economists, chasing higher rates, are calling for increases as soon as possible, we would suggest the Reserve Bank hold off longer and determine the full efficacy of the LVR policy; who knows there may be another way after all?”

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Prefu Roundup: Forecasts Revised, Surplus Intact

The National government heads into the election with its Budget surplus target broadly intact, delivering a set of economic and fiscal forecasts marginally revised from May to reflect weaker commodity prices and a lower tax take. More>>

ALSO:

Convention Centre: Major New SkyCity Hotel And Laneway For Auckland

Today SKYCITY Entertainment Group Limited revealed plans to build a new hotel and pedestrian laneway of bars, restaurants and boutique shopping on land it owns in the Nelson and Hobson Streets block, expanding the SKYCITY Entertainment Precinct. More>>

ALSO:

Igniting The Spark: Bringing The Digital Enabler To Life

Changing a name is, relatively speaking, the easy part of a re-invention. Changing a culture, getting all the ducks in a row, turning yourself inside-out to become customer-inspired is a much bigger challenge. More>>

ALSO:

Ebola And NZ: Targeted Screening At Airport But Risk Low

The risk of any cases of Ebola in New Zealand remains very low, but health and border authorities are well prepared... anyone arriving in New Zealand who in the last three weeks has visited countries affected will be screened for symptoms of the disease. More>>

ALSO:

Scoop Business: Brewer Seeking Crowd-Funding Cancels Shareholders’ Dividends

Shareholders in Renaissance Brewing company, the first business to seek equity through crowd-funding in New Zealand, have cancelled their claim on $147,000 of accumulated earnings “to make Renaissance a more attractive investment opportunity.” More>>

ALSO:

It's Spark Now:
Why Telecom Wanted To Change

New Zealand led the world when Chorus demerged from Telecom. It gave us a telecommunications industry structure where the network is completely separated from the products and services it delivers. The changes brought about a new market dynamic and it dramatically changed Telecom’s role. More>>

ALSO:

Glass Half Empty: Dairy Prices Fall To Lowest Since 2012

Dairy product prices slumped to the lowest level since October 2012 in the latest GlobalDairyTrade auction, paced by whole milk powder and cheddar. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news