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Economy
Spike in Covid cases: Which sectors are likely to get impacted most?
July 20, 2021 08:55 PM AEST| By Suhita PoddarSummary Covid-19 cases saw a recent surge that could derail the economic recovery and impact different sectors. Hospitality, Airlines, and Real Estate could be some of the worst impacted sectors if cases continue to rise and any new restric.....
Westpac cuts fee for KiwiSaver scheme to help people reach their investment goals
July 20, 2021 11:05 AM AEST| By RomaSummary Westpac cuts fee for its KiwiSaver Funds Scheme by one third. Balanced fund, growth, and cash fund charges to witness drop. Efforts being made to help people get the most of investments. In a recent announcement, Westpac Banking C.....
Which are the 10 largest economies of the world?
July 19, 2021 10:27 AM AEST| By Team Kalkine MediaEmerging market economies may soon take over their Western counterparts, given the international recognition received by them over the past decade. In fact, many Asian countries have already shattered the glass ceiling and revolutionised how the worl...
Covid trouble continues: UK sees 36,800 new Delta variant cases
July 17, 2021 12:39 AM AEST| By AbhijeetSummary Delta variant cases in the United Kingdom increased by 36,800 All the legal restrictions will be lifted from Monday, 19 July The rate of hospitalisation has surged to 4.43 per 100,000 people The unending Covid distress in the Unit.....
UK Government to levy first-of-its-kind Sugar and Salt Reformulation Tax
July 17, 2021 12:06 AM AEST| By Suhita PoddarSummary The UK government is considering levying a Sugar and Salt Reformulation Tax to lower meat and junk food consumption. Taxes raised would help fund free meals for an additional 1.1 million school children. National Food Strategy has urge.....
Know what’s latest in the global economic calendar
July 16, 2021 08:26 PM AEST| By Team Kalkine MediaSummary Economies across the globe are actively recovering from the COVID-19 crisis, with major policy changes looming ahead. Improvement in the unemployment figures has cast expectations of inflationary spells in New Zealand and the US. .....
Inflation makes NZ consumers worried, new data shows price rise to 3.3%
July 16, 2021 12:58 PM AEST| By ManikaSummary Inflation more than forecast as announced in the latest numbers. Mainly driven by oil price hikes and new houses’ building costs. The demand for interest rate hike next month gets stronger. Inflation numbers released by Stat.....
Will RBNZ be the first central bank to raise interest rates?
July 16, 2021 11:12 AM AEST| By RomaSummary The RBNZ keeps OCR unchanged in its monetary Policy review. Hike in interest rates being expected as early as August. Consumer market index and labour market data to influence further developments. With the updates laid out by the.....
Democratic Senators roll out draft bill to legalize marijuana
July 15, 2021 06:41 AM AEST| By Team Kalkine MediaSummary The bill seeks to legalize marijuana; the government would tax it at the national level. Prices of many pot stocks soared following the news. Eighteen states has legalized cannabis for recreational purposes and 37 for medical use. .....
Canada’s economic recovery in slow gear for 2021, interest rate unchanged
July 15, 2021 01:30 AM AEST| By Raza NaqviSummary The Bank of Canada (BoC) has said that the gross domestic product growth will be around six per cent this year. Despite speculations, key interest rates will not be increased by the Bank of Canada. Lockdowns and strict public health me.....
RBNZ keeps OCR unchanged but ends quantitative easing
July 14, 2021 02:50 PM AEST| By ManikaSummary RBNZ’s MPC agrees to put an end to stimulus As a first, halts its Large-Scale Asset Purchase (LSAP) programme Says, economy robust and its time to tighten the settings RBNZ’s Monetary Policy Committee (MPC) on Wednesda.....
Record rising median prices shatter New Zealanders’ dream of owning home
July 14, 2021 10:30 AM AEST| By RomaSummary Median home prices increasing alarmingly in the country. New Interest rate update could mean a difference in the current scenario. Waikato amongst the cities that have witnessed a quick surge in prices. As the housing prices in th.....
US inflation climbs 5.4% in June, highest growth in 13 years
July 14, 2021 06:19 AM AEST| By Kiran MuraliSummary The consumer price index grew 5.4% year over year in June, following a 5% increase in May. The core price index, which factors out food and energy, climbed 4.5 percent year over year. The increase in used cars and trucks prices contrib.....
Will RBNZ start tightening monetary policy from November this year?
July 13, 2021 12:34 PM AEST| By ManikaSummary The data suggests overheating of the New Zealand economy. Top four banks call out for interest rate hikes from November this year. Would the central bank be ready to do that is a big question? It is being expected that the Reserve.....
Risk of inflation hovers as Reserve Bank is set to unveil monetary policy update
July 13, 2021 11:00 AM AEST| By RomaSummary Risk of inflation rises as predictions roll in for Wednesday’s RBNZ policy report. A rise in interest rates in November is being predicted. Need for a balancing act that controls inflation while enabling economic growth. The.....
NZ railways to get NZ$1.3-billion investment in next 3 years
July 09, 2021 10:35 AM AEST| By RomaSummary Three-year rail investment program pledges NZ$1.3-billion investment. KiwiRail can begin a new era of consistency and success. Responsible for the GDP of the country, this is a much-needed support for KiwiRail. Railways in New Zea.....
More Kiwis show confidence in financial markets, prefer shares to term deposits
July 07, 2021 04:59 PM AEST| By ManikaSummary Confidence in financial markets has risen in the last one year. Investors shifting to shares from term deposits. Investors taking more to online platforms in a DIY mode. Confidence in financial markets has continued to rise in the.....
UK construction sector expands at fastest pace in 24 years
July 06, 2021 11:31 PM AEST| By AbhijeetSummary UK construction output registered the strongest rate in the last 24 years The IHS Markit/CIPS Construction PMI jumped to 66.3 in the month of June House building projects surged at the strongest rate since November 2003 The phased.....
Strong biz confidence pulls NZ interest hike expectations to Nov; NZD rises
July 06, 2021 06:36 PM AEST| By ManikaNew Zealand's business confidence has shown a sharp rise in Q2, suggesting a strong economic recovery giving rise to sooner-than-expected rate hike. The New Zealand Institute of Economic Research (NZIER) in its quarterly survey of business opinion.....
Is cost of ageing population the main reason for soaring government debt in NZ?
July 06, 2021 10:43 AM AEST| By ManikaSummary Rising debt in New Zealand a cause of worry for Treasury. Says, debt is driven mainly by ageing population and cost of healthcare. Suggests super age should increase from 65 years to 67 years. The New Zealand government is worried.....
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