Rebecca Howard

New Zealand

Canadian/New Zealand journalist working for BusinessDesk, covering economics, politics, dairy and a wide variety of other topics! Views are personal.

Articles

ASB Bank says bar is high for official cash rate cut in July

3 days ago | businessdesk.co.nz | Rebecca Howard

The bar is high for a July rate cut, ASB Bank says.“It would take a significant deterioration in key US trade negotiations or other strong evidence that NZ inflation is rapidly cooling for the RBNZ to follow through with a July cut,” ASB senior economist Mark Smith said. While it can’t be ruled out, “there is value in waiting”. The Reserve Bank of New Zealand (RBNZ) cut rates by 25 basis points to 3.25% in late May and its official cash rate forecasts indicate it expects to cut rates further.
Reserve Bank expects rates to go lower despite easing-bias debate

4 days ago | businessdesk.co.nz | Rebecca Howard

Reserve Bank of New Zealand's chief economist, Paul Conway, says the monetary policy committee supports a central forecast pointing to a lower cash rate despite debate about whether it has dropped its easing bias.
Rakon’s second half rebound sets it up for FY26 - analysts

1 week ago | businessdesk.co.nz | Rebecca Howard

Rakon’s strong recovery in the second half of the 2025 financial year should help underpin its recovery this year, said Forsyth Barr analysts.The high-tech manufacturer reported a net loss after tax of $5.8 million this week, including $3.6m of one-off restructuring and transaction costs. That compares with a net profit of $4.3m in FY24. Revenue was down 19% on the year to $104m. Its underlying earnings before interest, taxes, depreciation and amortisation were $9.5m, down 29% year-on-year.
Marsden Maritime Holdings shareholders back consortium buyout

1 week ago | businessdesk.co.nz | Rebecca Howard

Shareholders in Marsden Maritime Holdings voted strongly in favour of selling their shares to a consortium that will bring the company and Northport under shared ownership.Earlier this year, the NZX-listed industrial landowner announced that the Northland Regional Council, Port of Tauranga, and the Ngāpuhi investment fund, Tupu Tonu, had proposed a scheme of arrangement to buy out all minority shareholders in Marsden Maritime Holdings (MMH) and delist the company from the exchange.
RBNZ cuts to 3.25%, now sees cash rate at 2.9% in December

1 week ago | businessdesk.co.nz | Rebecca Howard

The Reserve Bank of New Zealand has cut the official cash rate by 25 basis points to 3.25% and now expects rates to go below 3.0% this year.The central bank’s forward-looking track now forecasts the cash rate reaching a low of 2.9% in December this year.
Fisher & Paykel Healthcare revenue tops $2b for the first time

1 week ago | businessdesk.co.nz | Rebecca Howard

Fisher & Paykel Healthcare’s full-year revenue topped $2 billion for the first time, and it expects further growth in the current financial year, despite the impact of tariffs.Total operating revenue was a record $2.02b for the year to March 31, an increase of 16% from the prior financial year, or 14% in constant currency.Net profit after tax for the financial year was $377.2 million, a 43% increase over the 2024 financial year, or 30% in constant currency.The percentage increase compared...
RBNZ rate cut fully priced, but not everyone agrees

1 week ago | businessdesk.co.nz | Rebecca Howard

A 25-basis-point Official Cash Rate rate cut to 3.25% is all but guaranteed this week, but not everyone is convinced it’s the best course of action.Three out of eight members of the New Zealand Institute of Economic Research’s shadow board in fact recommended the Reserve Bank (RBNZ) pause on Wednesday.“It is not yet clear that downside risks for global and domestic growth outweigh upside risks for inflation,” said Viv Hall, Emeritus Professor in the School of Economics and Finance at Victoria...
RBNZ rate cut on track but future path holds the key

1 week ago | businessdesk.co.nz | Rebecca Howard

With a rate cut fully priced on Wednesday, all eyes will be on where rates are headed and how quickly they might rise. The Reserve Bank of New Zealand (RBNZ) is expected to cut by 25 basis points to 3.25%. “If it were up to us, we would deliver a 50bp cut to 3%, a level broadly considered neutral, not even stimulatory. But it’s not just about the cut, it’s also about the trajectory. And we're focused on their next move(s),” Kiwibank economists told BusinessDesk. “Even assuming no surprises on th...
Budget 2025: Bond programme tweaked higher

2 weeks ago | businessdesk.co.nz | Rebecca Howard

The government’s bond programme lifted gross issuance to $175 billion from $168b in December, according to the Debt Management Office. Economists had forecast it might be increased by $2b to $4b. BNZ Head of Research Stephen Toplis said, however, if anything the market may be surprised it wasn’t lifted further. The year to June 2025 gross issuance is now set at $43b versus a December forecast of $40b to prefund some of the future cash requirement, the DMO said.
Budget 2025: Five things to watch at 2pm

2 weeks ago | businessdesk.co.nz | Rebecca Howard

Budget 2025 drops at 2pm, and while there's something for everyone, these five areas are ones to watch:When do the Treasury forecasts show the books back in the black? Finance Minister Nicola Willis says the goal is to hit a surplus in the year to June 2028. The forecasts, however, will likely stick to a surplus in the year to June 2029, despite the very tight operating budget. In December, the Treasury forecast a surplus of $1.9 billion in that year. The deficit peaks at $12.9b this year.