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Economy
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.....
UK government mulling scrapping quarantine rules for fully vaccinated from August
July 05, 2021 08:28 PM AEST| By Kamalika GhoshThe government is planning to scrap quarantine rules for travellers who are fully vaccinated and returning from amber listed countries. It was reported that the government was considering whether to do away with the legally mandated self-isolation .....
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UK on course to strengthen international trade as an independent nation
July 04, 2021 12:19 AM AEST| By Suhita PoddarSummary Of late, the government has been apparently working on a slew of measures that can bolster the trade prospects of the UK as an independent nation. The government, alongside the trade bodies and respective departments, have duly supporte.....
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US economy adds 850,000 jobs in June as wages rise
July 03, 2021 03:30 AM AEST| By Team Kalkine MediaSummary It was the biggest gain since August 2020, exceeding economists' estimates but in line with their expectation of a continued improvement in the labor market. The US economy had added 583,000 and 269,000 new jobs in May and April, respec.....
New Right-to-Repair Standard for the UK in Action
July 03, 2021 01:19 AM AEST| By Kamalika GhoshSummary UK’s new right-to-repair standard came into force from 1 July. As per the new rules, now manufacturers of white goods are required to make spare parts of electrical appliances available. These rules will increase the life span of.....
Global minimum corporate tax of 15% to give countries right to tax profits over $100 billion
July 02, 2021 08:27 PM AEST| By Kamalika GhoshSummary The US’ proposal for a minimum level of global corporate tax has found the backing of 130 nations. A proposal for charging a 15% minimum corporate tax has been backed by these nations. The US has been trying to tighten the noose .....
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Will NZ households pay extra for consumer items amid growing inflationary burden?
July 02, 2021 06:36 PM AEST| By SonalSummary ANZ-Roy Morgan Consumer Confidence Index remained steady at 114 in June. The index measures consumer confidence in NZ households every month and the subsequent impact on buying patterns. Inflationary pressures are building up. ANZ.....
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