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Economy
New Zealand’s September current account deficit relative to GDP at a low ebb in ~2 decades
December 15, 2020 06:27 PM PST| By Hina ChowdharyThe current account deficit for NZ dwindled to the lowest level since 2001, in the year to September due to lower imports coming in New Zealand in 2020. As per Stats NZ, seasonally adjusted current account deficit stood at $0.4 billion in the Sept.....
Adrian Orr suggests creating a new agency to address housing issues
December 10, 2020 08:24 PM PST| By Kunal SawhneyAdrian Orr, Governor of RBNZ, has addressed Finance Minister Grant Robertson’s suggestion for the role central bank can play in resolving housing crisis, by stating that Government should form a new housing agency to tackle the country’.....
Did Real Estate Agents play any role in the surging house prices?
December 09, 2020 11:53 PM PST| By Hina ChowdharyThe prospects of NZ economy looked grim with a lockdown imposed in the country in March and surge in coronavirus cases globally. With a rapid loss in jobs, unemployment rate was predicted to rise and housing prices were projected to fall with...
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RBNZ begins consultation to reimpose LVRs from next year
December 07, 2020 08:52 PM PST| By Team Kalkine MediaOn 8 December, RBNZ announced to look for views on its plan to reinstate loan to value restrictions (LVR) on mortgage lending from March 2021. When Covid-19 struck, the LVRs were halted in April as part of a range of measures to boost the economy an...
Homeownership rates in NZ fell to the lowest level in nearly seven decades
December 07, 2020 06:11 PM PST| By Team Kalkine MediaHomeownership in NZ has fallen to lowest levels since 1951 with homeownership rates striking the younger people. As per a report Housing in Aotearoa: 2020 by Stas NZ that gives a glimpse of the housing sector in NZ, about 64.5% of households were .....
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Superloans warned by the Commerce Commission over possible lending infringements
December 02, 2020 11:25 PM PST| By Team Kalkine MediaSuperloans, a former high-cost lender has been cautioned by the Commerce Commission over a possible failure to adhere to its responsible lending commitments after an investigation subsequent to several complaints from consumers, as well as budget a.....
New Zealand Housing Prices continues to Soar
November 30, 2020 01:32 AM PST| By Team Kalkine MediaThe latest survey conducted by ASB Bank Housing Confidence revealed that the market is currently on a new high in terms of housing prices. Mike Jones, senior economist from ASB revealed that after a short-term fall during the lockdown, the anticip.....
NZ trade surplus Highest in ~3 decades as Imports Plunge down
November 26, 2020 07:53 PM PST| By Team Kalkine MediaNew Zealand’s trade surplus data for the year ended October 2020 has shown a surplus of NZD 2.2 billion, a figure not seen since 1992. This came as imports declined due to the pandemic related restrictions. Increase in exports over the course.....
NZ posts record trade surplus as imports slump
November 25, 2020 09:16 PM PST| By Team Kalkine MediaNZ reported its biggest annual trade surplus in 28 years as coronavirus led to a severe drop in imports. The official numbers revealed that NZ recorded a surplus of $2.2 billion for the year ended October due to a 10% slump in imports during the time...
Adrian Orr to discuss tax alterations with government in housing clash
November 25, 2020 06:19 PM PST| By Hina ChowdharyAdrian Orr Governor of RBNZ had welcomed the letter written by the Finance Minister Grant Robertson, which asked the central bank to consider house prices alongside inflation and employment while formulating the monetary policy. Mr Orr has respond.....
NZ government approaches RBNZ to deal with skyrocketing housing prices
November 25, 2020 05:10 AM PST| By Kunal SawhneyNZ’s housing market is booming when the economy has suffered the biggest recession since the Great Depression (1929-1933), coronavirus causing border closure and rising unemployment. House prices have risen to record highs which were expected.....
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RBNZ confirms to reintroduce LVRs next year to keep a check on rising housing prices
November 24, 2020 08:55 PM PST| By Team Kalkine MediaLately, house prices have been soaring in NZ. RBNZ is being held liable for it, as the central bank continues to print money to pull the economy out of the COVID-19 induced recession. Finance Minister Grant Robertson had written to Adrian Orr, RBNZ...
G20 Summit: What are the key agenda points?
November 20, 2020 05:22 PM PST| By Kunal SawhneyThe exacerbated pandemic situation rampant across the globe has hit the nations with massive economic shocks. Amidst the faltered economic scenario, the leaders representing the major economies are virtually attending the 15th meeting of Group of T.....
Consumer Confidence in Focus Ahead of Christmas Rally
November 19, 2020 05:47 PM PST| By Team Kalkine MediaConsumer confidence is one of the most powerful economic indicators that influences the equity market. When there is high consumer confidence, people tend to purchase more and spending increases. Thus, there is an overall positive sentiment in the .....
RBNZ reviews internal processes after an unplanned disclosure of FLP
November 18, 2020 08:40 PM PST| By Team Kalkine MediaThe Reserve bank of NZ has admitted it accidentally broke the news of Funding for Lending scheme implementation to some non-bank lenders about 45 minutes prior to the official announcement of its Monetary Policy Statement. The bank claimed that th.....
Beware: impostor scams are on the rise amid pandemic says FMA
November 18, 2020 07:33 PM PST| By Team Kalkine MediaThe Financial Market Authority New Zealand is concerned regarding a steep rise in impostor scams since COVID-19 pandemic has broken out. Impostor scams are the ones where legitimate business names are used by the scamsters, but the contact i.....
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New Zealand likely to face grocery shortage; Labour government investigates
November 17, 2020 06:57 PM PST| By Hina ChowdharyAs the country navigates through COVID-19 outbreak, New Zealand is now facing another big problem. This time it is about the shortage of food supply nationally. Food and Grocery Council chief executive Katherine Rich has warned the country that the.....
Asia Pacific countries form the world’s largest trade alliance
November 17, 2020 01:47 AM PST| By Kunal SawhneyFifteen countries in the Asia-Pacific region have joined hands in the largest free-trade bloc ever witnessed in history. This comes after 8 years of negotiation and deliberation. The member countries include 10 ASEAN members: Brunei-Darussalam, Cam.....
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Has NZ housing market reached new heights?
November 16, 2020 09:20 PM PST| By Team Kalkine MediaLockdown is giving New Zealanders more time to think about their living situation and look for a potential property. As per the latest Trade Me Property data, Kiwis are climbing up the property ladder and are achieving new peaks. Property prices h.....
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RBNZ plans to increase stimulus, but questions develop around negative rates
November 16, 2020 07:14 PM PST| By Team Kalkine MediaRBNZ retained the OCR at 0.25% and quantitative easing program unchanged, in the latest monetary policy meeting. The Monetary Policy Committee (MPC) agreed on offering additional monetary stimulus to the economy to meet its CPI and employment remit.....
