Stories by Gyles Beckford
News
NZ economy weaker than expected, latest GDP data shows
The economy unexpectedly contracted at the start of the year as consumers controlled their spending, exports dipped, and primary industries produced less.
Targeted spending, infrastructure delays needed to quell cost of living crisis - OECD report
The government needs to be more targeted in its spending to relieve cost of living pressures and should consider delaying some infrastructure projects, according to the Organisation for Economic…
Reserve Bank increases official cash rate to six-year high of 2 percent
The Reserve Bank has announced another hike of the official cash rate, raising it by half a percentage point to a six-year high of 2 percent as it ramps up the battle against inflation.
Reserve Bank expected to lift interest rate to 2 percent
The Reserve Bank is set to raise its benchmark interest rate to its highest level in six years as it rejoins the battle with surging inflation.
Cautious approach as Budget shows deficits for next two years
The government takes a measured approach to new spending and investment as it looks to negotiate high inflation, global disruptions, and geo-political uncertainties, which it is expecting to dent near…
'Runaway inflation': Rates picked to rise in this week's RBNZ decision
Another rise in interest rates by the Reserve Bank seems certain this week. The only issue is how large will it be.
OCR raised by a quarter of a percentage point to 1 percent
The Reserve Bank has resumed its battle with surging inflation by raising the official cash rate and has signalled more rises this year.
Big banks' economists predict 25 basis points rise to OCR
The Reserve Bank releases its first monetary policy statement this week and the only issue is not if it raises the official cash rate (OCR), but by how much.
FMA's new boss wants focus on making a difference for consumers
The new head of the Financial Markets Authority plans to use empathy, education, and enforcement to deliver good results for consumers and investors.
Business leaders pessimistic on inflation forecasts
A new survey has delivered some sour news to the Reserve Bank with inflation expectations rising to their highest level in more than 30 years.
Inflation rises to highest annual rate since mid-1990
Consumer prices rose 1.4 percent in the three months ended December, taking the annual inflation rate to 5.9 percent.
A2 Milk share price surges as takeover talk gathers pace
Rumours that the embattled specialty dairy company A2 Milk is being eyed as a possible takeover target is being credited with driving its shareprice more than 7 percent higher.
Fonterra lifts payout forecast to record high
The dairy giant has has raised its forecast milk payout to farmers to a record level $8.40 and $9 per kilogram of milk solids.
House price growth edges down for first time in more than a year
The annual pace of rising house prices has started to decline for the first time since August last year, slipping to 28.4 percent Audio
Reserve Bank raises the official cash rate to 0.75 percent
The Reserve Bank has raised the official cash rate for the second time in two months to counter growing inflation pressures and signalled more rises next year.
Reserve Bank interest rate rise likely foregone conclusion
Another interest rate rise from the Reserve Bank seems a foregone conclusion this Wednesday.
Increase in cargo helps drive record profit at Napier Port
Napier Port has shaken aside the effects of Covid-related disruptions and fewer ship visits to post a record full year profit.
Allbirds shares hit high of $US27 on Nasdaq debut
New Zealand-founded shoe maker Allbirds has had a strong debut on the US Nasdaq technology dominated stock exchange.
Inflation hits highest level in a decade as consumer prices rose
Inflation has hit its highest level in a decade as consumer prices rose 2.2 percent in the three months ended September, taking the annual rate to 4.9 percent.
Economists expect inflation to reach highest level in a decade
Inflation is expected to hit its highest level in a decade when the latest data is released on Monday.
Will Reserve Bank raise the cash rate?
For the Reserve Bank this Wednesday, it could be second time lucky.
Reserve Bank leaves OCR unchanged due to Covid uncertainty
The Reserve Bank has left the official cash rate unchanged at a record low 0.25 percent because of uncertainty caused by the re-emergence of Covid-19 in the community and the subsequent lockdown.
Reserve Bank poised to increase OCR to ease economic pressures
The Reserve Bank looks set to deliver its first rise in the official cash rate in seven years on Wednesday.
FMA warns insurance firms on overcharging customers, poor value products
The insurance industry is generally ill-prepared and, in some cases, ignorant and indifferent to improving its conduct and treatment of customers, according to the Financial Markets Authority. Audio
Inflation hits highest level in a decade
Higher prices of food, fuel, and building and running a house were the main drivers of the increase.