Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.
Closing in on the 2% target
Inflation continues to move in the right direction. We’re closing in on the RBNZ’s 2% target, and sooner than we initially forecast.
Stronger fuel reserves to drive economic stability
New Zealand’s fuel resilience is being strengthened to ensure people and goods keep moving and connected to the world in case of disruptions, Associate Energy Minister Shane Jones says. Read the discussion document on increasing diesel reserves from 21 to 28 days and have your say here.
Official Cash Rate: Cut to 4.75% delivers relief but prospect of job losses dampens mood
New Zealand businesses and homeowners are relieved and “buzzing” after banks slashed interest rates in response to the “supersized” 50-basis-point Official Cash Rate (OCR) cut; however, the prospect of future job losses threatens to dampen the mood.
Thinking of breaking your mortgage? What you need to know
Now interest rates are falling, some borrowers are wondering if they should “break” a fixed-rate loan to “re-fix” on the new, lower rates.
Reinsurers almost exited New Zealand
The head of Suncorp Group – the transtasman insurance company that owns Vero and AA Insurance – says he had to convince reinsurers to keep providing cover for New Zealand policies after major weather events here including Cyclone Gabrielle.
How to deal with employees who want to work remotely
The covid-19 lockdowns forced a shift in our work habits, with remote working becoming the new norm. But as we move away from having to work from home, many employees still want to work remotely or at least have some sort of hybrid arrangement.
Government will not intervene in wholesale electricity market
Energy Minister Simeon Brown says neither the Government, the Electricity Authority nor Transpower will step in to insulate wholesale electricity market participants from adverse moves in power prices. A Government Policy Statement (GPS) – released by Brown today – said individual wholesale parties were best placed to understand the risks they face and how best to “insure” against those risks for their particular circumstances.
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