Govt complacency leaves RB no room to cut

Press Release – New Zealand Labour Party

The Government has put the economy in a holding pattern, leaving the Reserve Bank Governor with little room to manoeuvre as he tries to balance a rampant housing market with non-existent inflation, says Labours Finance spokesperson Grant Robertson. Read more »

RBNZ keeps OCR at 2.25%, says inflation likely to pick up

Article – BusinessDesk

April 28 (BusinessDesk) – Reserve Bank governor Graeme Wheeler kept the official cash rate at 2.25 percent, in a decision traders had said could go either way, while predicting inflation will pick up as the slump in oil prices washes out of the data … Read more »

RBNZ Monetary Policy statement

Press Release – HiFX

The outlook for global growth has deteriorated over recent months due to weaker growth in China and other emerging markets Read more »

Official Cash Rate unchanged at 2.25 percent

Press Release – Reserve Bank

The Reserve Bank today left the Official Cash Rate unchanged at 2.25 percent. Read more »

NZ dollar falls before RBNZ review; Fed keeps rates on hold

Article – BusinessDesk

NZ dollar falls before RBNZ statement as Fed keeps rates unchanged, drops reference to global risks Read more »

NZD gains vs. Aussie on weakest inflation in 7 years

Article – BusinessDesk

The New Zealand dollar rose against its Australian counterpart after Australia posted its weakest inflation in seven years, sparking speculation of an interest hike across the Tasman just as the market is preparing for the local Reserve Bank’s rate decision. Read more »

IMF to review financial system oversight, securities law

Article – BusinessDesk

April 27 (BusinessDesk) – The International Monetary Fund will look at the Reserve Bank’s oversight of the insurance and banking sectors, and review the overhaul of New Zealand’s securities law to see how the country stacks up against global norms. Read more »

IMF to assess how NZ’s financial institutions are regulated

Press Release – Reserve Bank

The International Monetary Fund (IMF) is preparing to assess the way that financial institutions are prudentially regulated and supervised, a report says in the Reserve Bank Bulletin published today. Read more »

NZ dollar gains as traders split on central banks’ direction

Article – BusinessDesk

April 26 (BusinessDesk) – The New Zealand dollar rose, reversing course from an overnight selloff in a sign traders are divided about what they’ll learn about the outlook for interest rates from the central banks of Japan, New Zealand and the US this week. Read more »

Lower interest rates make KiwiSaver more attractive

Press Release – ANZ Bank

More New Zealanders are intending to leave money in their KiwiSaver after they reach 65, according to the latest ANZ Retirement Savings Barometer. Read more »

English scotches speculation

Article – BusinessDesk

April 22 (BusinessDesk) – New Zealand Finance Minister Bill English scotched speculation that he is concerned about the Reserve Bank’s performance after he stepped up his oversight of the central bank. Read more »

English releases RB Board letter of expectations

Press Release – New Zealand Government

Hon Bill English Minister of Finance 22 April 2016 English releases RB Board letter of expectations Read more »

Traders split on RBNZ’s April rate cut decision

Article – BusinessDesk

April 22 (BusinessDesk) – Traders are evenly split on whether Reserve Bank governor Graeme Wheeler will deliver another interest rate cut next week, with the kiwi dollar flying above the central bank’s projections, making imported products cheaper and … Read more »

NZ dollar falls vs Australian dollar, greenback

Article – BusinessDesk

April 21 (BusinessDesk) – The New Zealand dollar fell from a 10-month high against the greenback and dropped versus the Australian dollar amid speculation the Reserve Bank may try to drive the kiwi lower by cutting rates next week when most in the … Read more »

Media lockup to go ahead for Budget

Article – BusinessDesk

April 21 (BusinessDesk) – The Treasury has confirmed it is to go ahead with a lock-up for journalists for the budget on May 26, despite the Reserve Bank’s decision to end the briefings. Read more »

New Zealand Outlook – Flying Towards Turbulence

Press Release – Moody’s Analytics

The New Zealand economy will likely expand 2.8% in 2016, driven largely by construction and housing. Read more »

NZ dollar above 70 US cents for first time in 10 months

Press Release – BusinessDesk

April 19 (BusinessDesk) – The New Zealand dollar rose above 70 US cents for the first time since June last year amid speculation the Federal Reserve won’t rush to raise interest rates and the Reserve Bank won’t hurry to cut its benchmark rate. Read more »

SIA to supply new settlement system

Press Release – Reserve Bank

The Reserve Bank has signed a contract with SIA to implement and support a new real-time gross settlement system (RTGS) that will replace the current Exchange Settlement Account System (ESAS). Deputy Governor Geoff Bascand said: Our preferred approach … Read more »

How to Safely Exit Our Housing Bubble

Article – Peter Neilson

One year ago today the Deputy Governor of the Reserve Bank, Dr Grant Spencer made a speech entitled Action Needed to Reduce Housing Imbalances. In that speech he said while there are difficult issues and trade-offs to consider in this area, … Read more »

Reserve Bank tracks down leak from lockup to Mediaworks

Article – BusinessDesk

April 14 (BusinessDesk) – New Zealand’s Reserve Bank said its decision to cut interest rates last month was leaked by a Newshub Mediaworks reporter from the media lockup and it will stop offering journalists and analysts embargoed access to sensitive … Read more »

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