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Economy
Graeme Hart made NZ$3.5 bn during pandemic, Oxfam study suggests wealth tax
January 25, 2021 07:00 PM AEDT| By Team Kalkine MediaThe fact that Graeme Hart, New Zealand’s richest man, made fortunes of NZ$ 3.5 billion during COVID-19 pandemic alone, the inequalities in the economic system were highlighted once again. This also brought forth the need for a wealth tax.&nbs.....
What will be the impact of Brexit on NZ’s primary industry exporters?
January 24, 2021 06:27 PM AEDT| By Team Kalkine MediaThe United Kingdom (UK) broke off from the European Union completely on January 1, 2021. In the transition period between declaring breakaway from Brexit and actually exiting, there were months of arduous negotiations and certain conclusions were r.....
Annual CPI inflation reaches 1.4% in December 2020 quarter
January 22, 2021 01:10 PM AEDT| By Hina ChowdharyNZ CPI inflation struck 1.4% in December 2020 quarter compared to the same quarter in 2019, as per Stats NZ figures, released on 22 January. Economists had anticipated inflation to slide to 1.1%. In the December 2020 quarter, CPI increased 0.5% comp...
PM Ardern confirms above 18K state homes to be built by 2024; Will it end NZ’s housing crisis?
January 21, 2021 07:48 PM AEDT| By Mark O'DonnellPrime Minister Jacinda Ardern has affirmed the Labour Government’s promise to build more state homes as the waiting list for them grows to around 22,500 people. A total of 8,000 new homes were promised by Labour during its campaign in the le.....
On Day One, Biden reverses a raft of Trump decisions
January 21, 2021 01:58 AM AEDT| By Team Kalkine MediaSource:Stratos Brilakis, Shutterstock President Joe Biden has begun his first day in Oval Office by signing a flurry of executive orders to overturn his predecessor Donald Trump’s controversial decisions that had raised political storms at hom...
What is New Zealand government’s plan to counter housing crisis?
January 19, 2021 04:18 PM AEDT| By Mark O'DonnellNZ housing crisis appears to be too enormous for the government to solve without risking the whole economy, or perhaps, it is apathy or a political strategy. It might be a mixture of all the things mentioned above. The Housing Crisis The housing .....
Property values in NZ witness strong price growth in last 10 years
January 19, 2021 02:53 PM AEDT| By Team Kalkine MediaThe average asking price rose in nearly every NZ district between 2011 and 2020, as per REINZ data. Property owners made some extravagant returns from the value gains witnessed in the last 10 years. Vanessa Taylor, the property consultant spokespe.....
Joe Biden Set To Become The 46th US President: Key Highlights
January 18, 2021 02:12 AM AEDT| By Team Kalkine MediaSource: Stratos Brilakis, Shutterstock Summary Stage set for Joe Biden’s swearing-in as the 46th US President on Wednesday Health, energy, and technology stocks may see a major boost Energy firms anxious over fate of Keystone proje...
Is NZ’s Domestic Pork Industry Set To Pick Up In 2021
January 17, 2021 12:47 AM AEDT| By Kunal SawhneyPork farming is the only primary industry in New Zealand that does not cater completely to domestic demand and does not export. In fact, New Zealanders are more dependent on imports of pork as the domestic pork industry has not been able to.....
Sharp rise in New Zealand’s house prices continues
January 15, 2021 03:27 PM AEDT| By Kunal SawhneyThe NZ property market is running red hot as the new data by REINZ in December showed the housing prices setting records for the fourth consecutive month. Swift rebound from COVID-19, record low interest rates, and tax system alterations, have led ho...
Are increasing bond yields an indication of looming inflation?
January 15, 2021 12:10 AM AEDT| By Mark O'DonnellThe yield on the NZ 10Y Government Bond has jumped 21.1 basis points in the past month. The 10Y bonds stood at a yield of 1.068% reflecting an increase from 14 December 2020 noted at 0.939%. As bond yields are typically tied to inflation (bo.....
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Westpac (NZX:WBC) says large urban centres to drive NZ economy in 2021
January 14, 2021 04:48 PM AEDT| By Team Kalkine MediaA report by Westpac Banking Corporation (NZX:WBC, ASX:WBC) has revealed that large urban centres would be major drivers of NZ economy in 2021 with house prices playing a huge part. However, rural regions would persist to perform well, with farmers .....
Fitch Ratings Declares NZ's Foreign Currency IDR at 'AA'
January 14, 2021 12:34 AM AEDT| By Mark O'DonnellFitch Ratings has recently confirmed New Zealand’s Foreign-Currency IDR as ‘AA’ while indicating a optimistic long-term outlook. AA indicates a very low default risk while the positive outlook indicates that the rating may be rais.....
Dry weather across northern hemisphere hits wheat production, Is Australia in a sweet spot?
January 11, 2021 04:39 PM AEDT| By Team Kalkine MediaAustralia wheat is set to land far beyond China as the Russian and European supply chains are taking a hit. Dry weather has hurt top growing regions in the northern hemisphere; however, the condition across Australia has been conducive with widesprea...
Westpac cuts mortgage rate amid housing boom
January 11, 2021 02:35 PM AEDT| By Team Kalkine MediaWestpac Banking Corporation (NZX:WBC,ASX:WBC) has declared a mortgage rate of 2.29%, a steep 20 bps cut and the lowest rate offered by any of the 4 big banks in NZ. However, the special rate is only available on a 1-year fixed term for customers wi.....
US loses 140,000 jobs in December 2020
January 11, 2021 09:38 AM AEDT| By Team Kalkine MediaAccording to the latest employment data released by the US Bureau of Labor Statistics on 8 January 2021, the US's total nonfarm payroll employment has fallen by 140,000 in December 2020. The recent surge in the no. of coronavirus cases and the rela.....
Will owning a house in NZ become a distant dream amid soaring housing prices?
January 08, 2021 02:55 PM AEDT| By Team Kalkine MediaNZ posted record housing prices for December 2020, showing no signs of any moderation in the last month of 2020. CoreLogic’s House price index (HPI) revealed that property values rose by 2.6% in December alone, reporting a 6.1% growth in the.....
NZ property market likely to stay on its wild trajectory in H1 2021
January 06, 2021 04:03 PM AEDT| By Kunal SawhneyNZ property market has been on a wild trajectory, witnessing persistent increase in the housing prices. Property market leader CoreLogic’s house price index (HPI) increased by 2.6% in December, up by 11.1% from a year earlier, taking the gro.....
How 2020 Panned Out for Interest Rate Scenario Across Major Economies?
December 31, 2020 07:36 PM AEDT| By Team Kalkine MediaCentral banks across the globe have resorted to low interest rates to stimulate economies suffering from a recession amidst the pandemic. Many countries have lowered their interest rates to never-before-seen levels, close to 0% in most cases. Sinc.....
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How Central Banks Changed the Course of 2020?
December 30, 2020 04:03 PM AEDT| By Team Kalkine MediaCentral banks across the globe have constantly been innovating and finding new solutions to combat the economic strain caused by pandemic. Amidst the uncertainty attached to the coronavirus and the lack of complete knowledge about the same, policy .....
