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Economy
US household wealth declines for first time since 2020
June 10, 2022 05:52 AM AEST| By Mridul GogoiUS household wealth declines for first time since 2020 Highlights: US household wealth dropped in the first quarter of 2022, the first time since 2020. US household net worth fell to US$149.3 trillion from a historic US$149.8 trillion at the end...
Crypto bank vs Fed: It is not Fed’s first brush with litigation
June 10, 2022 05:19 AM AEST| By Mridul GogoiHighlights: Wyoming-based crypto bank, Custodia has sued the Federal Reserve for blocking its access to Fed’s Masters Accounts. The lawsuit states that the central bank sat on Custodia’s application for 19 months without taking any .....
Inflation higher in NZ than Australia: Check out responses of central banks
June 08, 2022 10:51 AM AEST| By ManikaHighlights Annual inflation is higher in New Zealand as compared to Australia Prices are rising in Australia significantly of late A wide gap between central banks’ monetary policy responses Annual inflation in the year to the March.....
US narrows record trade deficit as imports shrink 3.4% in April
June 08, 2022 05:04 AM AEST| By Mridul GogoiHighlights: US imports in April dropped sharply amid inflation concerns. The declining imports helped narrow the US trade deficit from a record high in March. The World Bank has warned that inflation and sluggish growth to hit global trade thi.....
US job market outpaced expectations, unemployment steady at 3.6%
June 04, 2022 05:25 AM AEST| By Mridul GogoiUS employment figures were better-than-expected in May while the unemployment rate remained stable at 3.6%, the labor department said on Friday. The US labor market is currently tight, even as the Federal Reserve works to cool demand. Nonfarm pay.....
US GDP declined 1.5% in Q1, consumer spending stayed strong
May 27, 2022 07:55 AM AEST| By Team Kalkine MediaIn a revised GDP data on Thursday, the Commerce Department said that the US economy shrank at an annual rate of 1.5% in the first three months of this year, more than its prior estimate of 1.4%. It is the first slump since the second quarter of 20.....
Fed expresses urgency for raising rates in inflation fight
May 26, 2022 07:18 AM AEST| By Sanjeeb BaruahThe central bank on Wednesday released the details of their meeting from May 3-4 as it raced to combat the spiraling high inflation that threatened to slow US economic growth. Most participants backed a half-percentage point increase in interest r.....
Kiwis gear up for more mortgage rates as RBNZ raises OCR
May 25, 2022 02:15 PM AEST| By ManikaHighlights As expected, the Reserve Bank of New Zealand raises the OCR by 50 bps This brings the OCR from 1.5% to 2% Expecting to raise the OCR more to bring down inflation to remit levels The Reserve Bank of New Zealand (RBNZ) Wednesday .....
RBNZ to announce OCR rates on Wednesday, what to expect?
May 24, 2022 04:14 PM AEST| By ManikaHighlights The Central Bank of NZ to announce the official cash rates (OCR) Wednesday It is almost certain that it will raise the OCR According to most of the economists, it will raise the OCR by 50 bps It is almost certain that the Reser.....
Labor Party win in Australia: How will the result affect New Zealand?
May 23, 2022 06:09 PM AEST| By ManikaAnthony Albanese, belonging to the Labor Party, was sworn in as Australia's 31st Prime Minister on Monday. Albanese defeated Conservative Party's Scott Morrison on Saturday night after a six-week campaign. This ended the Conservative Party ru.....
Why is China moving against the tide in terms of interest rate changes?
May 22, 2022 12:15 AM AEST| By Akanksha VashishtHighlights China’s government has initiated country-wide lockdowns as rising COVID cases spark concerns. Lockdowns across the country have landed major businesses in losses, resulting in shipment delays. The Chinese central bank has rece...
US home sales drop for 3rd straight month, mortgage rates rise sharply
May 21, 2022 12:54 AM AEST| By Team Kalkine MediaHighlights: Borrowing costs rose for a third straight month in April, keeping home buyers at bay. Homebuyers are dealing with the highest lending rate since 2008. The average price of homes in April jumped to US$391,000- a record high. US.....
Budget 2022: What would be the top 3 focus areas in Thursday’s announcement?
May 19, 2022 10:35 PM AEST| By SonalHighlights Grant Robertson will unveil his fifth budget on 19 May. Health and climate change are to be the top priority areas of the budget. Kiwis are expecting some steps to be announced regarding the cost of living. Grant Robertson will.....
Does Budget 2022 addresses cost-of-living crisis in NZ?
May 19, 2022 05:13 PM AEST| By ManikaHighlights FM Grant Robertson in his Budget speech expressed concern over the high cost of living Announced several measures to support low-income groups The Cost of Living allowance of NZ$27 per week for low-income earners Budget 2022 ha.....
NZ Budget 2022: Key spending areas in a nutshell
May 19, 2022 03:13 PM AEST| By ManikaHighlights Healthcare takes centerstage in Budget 2022 FM Robertson is of the view that the healthcare is fragmented and unequal in NZ The largest-ever investment of NZ$11 billion has been planned for this sector Finance Minister Grant Ro.....
AIA, AIR, SKO: 3 NZX stocks to eye as travel starts to recover
May 18, 2022 03:36 PM AEST| By Manika9 pandemic. Serko Limited (NZX:SKO) SKO is a corporate travel technology company that announced its full-year results today. It said that it was stepping up its investment as it was expecting a big travel recovery after three years of losses....
Is NZ’s Budget 2022 going to be a `Well-Being’ one?
May 18, 2022 12:50 PM AEST| By ManikaHighlights The NZ Federal Budget for 2022 has been positioned as a `Well-Being’ Budget The Finance Minister faces a tough challenge to bring together a Budget when inflation is at a new high Due to many challenges, the FM will have to do.....
US homeowners look for tenants to help pay their mortgages
May 16, 2022 06:34 AM AEST| By Team Kalkine MediaHighlights: More and more buyers in the US are warming up to the idea of renting out extra space as expenses surge. The housing market in the US is likely to accelerate next year. The trend of renting out extra rooms is catching up in the US. .....
Political unrest in Sri Lanka amid rising economic turmoil
May 14, 2022 12:00 AM AEST| By Toshiva JainHighlights Several economists have said that the main problem behind Sri Lanka’s current situation is economic mismanagement. Hundreds have been injured in protests; few have even died including a ruling party MP. After Mahinda Rajapaksa...
Budget 2022: FM Robertson stresses health, low-emissions economy as priorities
May 12, 2022 01:51 PM AEST| By ManikaHighlights Grant Robertson delivered another pre-Budget speech to the Wellington Chamber of Commerce He underlined healthcare, high wage, and a low-emissions economy as priorities Defends spending even if inflation touches a 7% mark .....
