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Tag: newzealand

New Zealand: RBNZ Aims to Hike Rates Further on Record High Inflation – UOB

New Zealand: RBNZ Aims to Hike Rates Further on Record High Inflation – UOB New Zealand: RBNZ Aims to Hike Rates Further on Record High Inflation – UOB

UOB Group economist Lee Sue Ann assesses the latest inflation figures for New Zealand. Key Statements: “The CPI rose 1.7% quarter-on-quarter in the first quarter of 2012, slightly less than the 1.8% in the first quarter of 2022, but above expectations of a 1.5% increase. Compared with the same period of the previous year , […]

RBNZ Minutes: Committee agreed to maintain focus on vigorously raising OCR

RBNZ Minutes: Committee agreed to maintain focus on vigorously raising OCR RBNZ Minutes: Committee agreed to maintain focus on vigorously raising OCR

In minutes published alongside the monetary policy statement, the Reserve Bank of New Zealand (RBNZ) has noted that the “committee agreed to maintain its approach to vigorously raising the OCR“. Additional comments Members noted that the New Zealand dollar exchange rate has depreciated The Committee noted that the weakening of the New Zealand dollar continues […]

New Zealand Treasury Department: The economy will border on recession in 2023

New Zealand Treasury Department: The economy will border on recession in 2023 New Zealand Treasury Department: The economy will border on recession in 2023

In his latest report, the New Zealand’s Treasury Department predicted the economy will narrowly avoid a recession next yeargiven the increase in rates and the slowdown in demand. Key Comments (via Bloomberg) “The Treasury projects that inflation will slow from the current 6.9% to 5.2% in June 2023. He doesn’t see it going back to […]

Moody’s reaffirms the AAA rating and maintains the stable outlook

Moody’s reaffirms the AAA rating and maintains the stable outlook Moody’s reaffirms the AAA rating and maintains the stable outlook

The Investors Service Moody’s affirmed New Zealand’s currency rating at “AAA” while maintaining a “stable” outlook. The global rating agency expects solid 3.0% growth in 2022 as the economy continues to recover from Covid, even as fiscal and monetary policy begin to normalize in the face of domestic and external inflationary pressures. Key comments “New […]