Matthew Brockett

Wellington

Wellington Bureau Chief at Bloomberg News

New Zealand Bureau Chief Bloomberg News. Views are my own

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Articles

New Zealand to Tighten Budget Belt as US Tariffs Threaten Growth

2 weeks ago | bloomberg.com | Matthew Brockett

The economic uncertainty unleashed by US tariffs is expected to curb global growth and therefore demand for New Zealand exports. (Bloomberg) -- New Zealand’s government has been forced to slash new spending in this year’s budget as sweeping US tariffs threaten to curb global growth and imperil the country’s fiscal recovery.
New Zealand proposes trading bloc with Canada, EU and Pacific allies

1 month ago | financialpost.com | Matthew Brockett

Article contentNew Zealand Prime Minister Christopher Luxon is proposing the formation of a rules-based trading bloc in response to sweeping United States tariffs that threaten to hurt economies reliant on global trade. Sign In or Create an AccountArticle contentWe apologize, but this video has failed to load. Try refreshing your browser, ortap here to see other videos from our team. We apologize, but this video has failed to load.
New Zealand Proposes Rules-Based Trading Bloc to Counter Tariffs

1 month ago | financialpost.com | Matthew Brockett

Luxon said the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, a free-trade agreement between 12 nations including New Zealand, Japan, Canada and the UK, could be the basis for a wider agreement with the EU that seeks to “promote free trade as a path to prosperity.” “One possibility is that members of the CPTPP and the European Union work together to champion rules-based trade and make specific commitments on how that support plays out in practice,” he said Thursday in...
New Zealand Proposes Rules-Based Trading Bloc to Counter Tariffs

1 month ago | bloomberg.com | Matthew Brockett

Christopher Luxon at the Parliament in Wellington, New Zealand, on April 10. (Bloomberg) -- New Zealand Prime Minister Christopher Luxon is proposing the formation of a rules-based trading bloc in response to sweeping US tariffs that threaten to hurt economies reliant on global trade.
New Zealand Proposes Rules-Based Trading Bloc to Counter Tariffs

1 month ago | flipboard.com | Matthew Brockett

2 hours ago2346 GMT — Japanese stocks may rise as fears about U.S. tariffs ease following President Trump’s pause for so-called reciprocal tariffs. The Nikkei futures are up 10% at 35110 on the SGX. USD/JPY is at 147.59, up sharply from 145.38 as of Wednesday’s Tokyo stock market close. Investors are focusing …
RBNZ Eyes More Rate Cuts as Tariffs Create Downside Risks

1 month ago | bloomberg.com | Matthew Brockett

The Reserve Bank of New Zealand (RBNZ) building in Wellington. (Bloomberg) -- New Zealand’s central bank cut interest rates for a fifth straight meeting and said it has scope for further reductions as US tariffs create downside risks for economic growth and inflation. The Reserve Bank’s Monetary Policy Committee lowered the Official Cash Rate by 25 basis points to 3.5% Wednesday in Wellington, as expected by all 23 economists in a Bloomberg survey.
New Zealand Names Hawkesby Central Bank Governor For Six Months

1 month ago | bloomberg.com | Matthew Brockett

New Zealand’s central bank will be helmed by Christian Hawkesby for an initial period of six months while the search for a permanent governor takes place. Hawkesby, who was already acting Reserve Bank governor following the unexpected resignation of Adrian Orr last month, may have his term extended by as much as three months if needed, Finance Minister Nicola Willis said Tuesday in Wellington.
New Zealand Says Economic Recovery Made Harder by US Tariffs

1 month ago | bloomberg.com | Matthew Brockett

New Zealand said its recovery from recession has been made more difficult by US President Donald Trump’s sweeping tariffs as they are likely to damp global demand for its goods. Finance Minister Nicola Willis said while New Zealand has been hit with a 10% tariff on its exports to the US, the main risk is that its other trading partners, some of whom face higher tariffs, are adversely affected.
RBNZ May Be Forced Into Deeper Rate Cuts by Global Trade Turmoil

1 month ago | bloomberg.com | Matthew Brockett

New Zealand’s central bank may be forced into deeper interest-rate cuts as US President Donald Trump’s sweeping tariffs and the prospect of a global trade war put the nation’s nascent economic recovery in jeopardy. The Reserve Bank was already expected to lower its Official Cash Rate by 25 basis points to 3.5% on Wednesday in Wellington, but investors are now betting it will have to take it below 3% this year to buffer the economy.
New Zealand Housing Market Has Entered Upturn, CoreLogic Says

1 month ago | bloomberg.com | Matthew Brockett

New Zealand’s housing market has entered its next phase of growth as lower interest rates begin to stoke demand and drive up prices, according to property agency CoreLogic. Prices rose 0.5% in March, the strongest increase since January last year, CoreLogic New Zealand said Thursday in Wellington. That follows a 0.4% gain in February and a flat result in January, it said.