Gyles Beckford

1 week ago | rnz.co.nz | Gyles Beckford

Analysis - The setting of the Reserve Bank's monetary policy committee meetings to set the official cash rate (OCR) every six weeks or so is the closest New Zealand has to a Papal Conclave, but without the brightly coloured clothing and smoke out the chimney. The Committee was set up in 2018, replacing the Governor as the sole official decision maker on interest rates, with four RBNZ officials being joined by three external members.

1 week ago | radionz.co.nz | Gyles Beckford

Reserve Bank cuts official cash rate by 25 basis points to 3.25 percent Debate on whether to hold OCR, 5-1 vote to cut RBNZ statement omits any mention of future possible cuts Second consecutive small cut as RBNZ cautious, lowest OCR since September 2022 RBNZ says economy faces challenges, inflation expected to stay in band despite spike Outlook uncertain, impact of tariffs on NZ and global growth, inflation, markets unclear The Reserve Bank has cut the official cash rate by 25 basis points...

1 week ago | rnz.co.nz | Gyles Beckford

Uncertainty about global trade, near term inflation lift points to cautionSoft economic recovery backs case for further rate cutsEyes on RBNZ statement and forecasts for hints on how low RBNZ will goStand-in Reserve Bank (RBNZ) governor Christian Hawkesby faces his first public test this week, selling the central bank's latest monetary policy statement and providing clarity and certainty on the path of interest rates.

1 week ago | radionz.co.nz | Gyles Beckford

Uncertainty about global trade, near term inflation lift points to cautionSoft economic recovery backs case for further rate cutsEyes on RBNZ statement and forecasts for hints on how low RBNZ will goStand-in Reserve Bank (RBNZ) governor Christian Hawkesby faces his first public test this week, selling the central bank's latest monetary policy statement and providing clarity and certainty on the path of interest rates.

2 weeks ago | radionz.co.nz | Gyles Beckford

An uncertain economic outlook and slower recovery will keep government finances in deficit for the next three years before a return to surplus. The Budget forecasts a $3 billion a year lower tax take, while expenses are about $1 billion higher than forecast in the December update, resulting in the budget deficit peaking at $12 billion in the coming year and staying higher than expected before a surplus of $200 million in 2029.