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☆ New Zealand announces NZ$700,000 in additional flood support as cleanup begins
▼ + stars: | 2023-02-02 | by ( Lucy Craymer | ) www.reuters.com time to read: +2 min

WELLINGTON, Feb 2 (Reuters) - New Zealand's government on Thursday announced NZ$700,000 ($450,000) in additional funding to help rebuild flood-ravaged Auckland and other areas in the upper north island as residents of the country's second-largest city start cleaning up. Auckland and much of New Zealand’s upper North Island have been hit by record rainfall in the last week, which authorities say has been exacerbated at least in part by climate change. Four people died in flooding and landslides that left roads closed, cut off communities, and damaged homes, farms and businesses. “The main thing that we have to do right now is to support people through this immediate period,” New Zealand Prime Minister Chris Hipkins said on Thursday. Summers in New Zealand usually bring some rain, but the region is experiencing the La Nina weather system, which can bring much heavier rain to the upper North Island.

☆ The worst of the rain to hit New Zealand's Auckland may have passed
▼ + stars: | 2023-01-31 | by ( Lucy Caymer | ) www.reuters.com time to read: +2 min

Four people were killed in flash floods and landslides that hit Auckland beginning on Friday as rainfall, that authorities say has been exacerbated at least in part by climate change, drenched the city. A state of emergency remains in place in Auckland but has been lifted in the Northland region to the north of the city. A house collapsed down a cliff injuring three people in a beach settlement near Auckland on Wednesday. The national meteorological service said the heaviest rains had passed Auckland although downpours were hitting to the southeast, in the regions of Coromandel and Bay of Plenty. Summers in New Zealand usually bring some rain but the region is experiencing the La Nina weather system, which can bring much heavier rain to the upper North Island.

By announcing an inflation goal, central bankers feel they build credibility for themselves and focus the planning of households and firms in ways that help keep inflation controlled. Those decades, up to the end of the first year of the coronavirus pandemic in 2020, saw inflation largely contained. Achieving that target is just core to our overall monetary policy," Brainard said, a sentiment echoed in central bank headquarters from Frankfurt to London to Tokyo. "Let me be quite clear, there are no ifs or buts in our commitment to the 2% inflation target," Bank of England Governor Andrew Bailey said last year. Should inflation prove stickier than expected, achieving the central bank's 2% inflation goal could mean even more losses.

☆ More heavy rain expected for New Zealand's flood-ravaged Auckland
▼ + stars: | 2023-01-30 | by ( Lucy Craymer | ) www.reuters.com time to read: +2 min

Four people lost their lives in flash floods and landslides that hit Auckland over the last three days amid record downpours. Auckland has already received record levels of rain in the past four days and sodden ground and full rivers mean new rainfall brings increased risks. Beaches around the city of 1.6 million are off limits due to contaminated water, several main roads remain closed, and all Auckland schools will remain shut until Feb. 7. Kelleher said Auckland domestic airport was now running at full capacity and Auckland International Airport was operating at near capacity and hoped to return to normal operations soon. The insurance industry expects the costs associated with the flood to top the NZ$97 million spent following the 2021 floods on New Zealand’s West Coast.

☆ The mouse that roared: New Zealand and the world's 2% inflation target
▼ + stars: | 2023-01-30 | by ( Lucy Craymer | ) www.reuters.com time to read: +5 min

Since it's arrival in 1990, the 2% inflation target phenomenon has sailed from Wellington around the globe to become the accepted norm among central banks, large and small, for grounding public expectations for what inflation ought to be. The adoption of the inflation target was followed by aggressive monetary tightening, with 90-day rates climbing to 15% in 1990. A year later, inflation had fallen to 2% and New Zealanders' inflation expectations adjusted quickly to the new paradigm. Initially there was debate about whether interest rates or money supply should be the target, but it was decided it was better to target the ultimate goal: inflation. "They did all the hard work and I just got all the glory and the title of being the most despised man in New Zealand," Douglas said.

☆ Support for New Zealand's Labour Party jumps after Hipkins replaces Ardern
▼ + stars: | 2023-01-30 | by ( Lucy Craymer | ) www.reuters.com time to read: +3 min

WELLINGTON, Jan 31 (Reuters) - Support for New Zealand's Labour Party has jumped to its highest level in almost a year after Chris Hipkins replaced Jacinda Ardern as prime minister and leader of the Labour Party. National is sitting at 37%, and is behind in Labour for the first time since early 2022. Hipkins had nailed the political messaging and managed to reconnect with former Labour supporters, said political commentator and former National Party staffer Ben Thomas. Carmel Sepuloni, the new deputy prime minister, who is of Samoan, Tongan and European descent, will be associate foreign minister. Hipkins's first official trip as prime minister will be to Australia next week where he is scheduled to meet with Prime Minister Anthony Albanese.

☆ New Zealand's Auckland expected to receive further rains as flooding remains
▼ + stars: | 2023-01-29 | by ( Lucy Craymer | ) www.reuters.com time to read: +2 min

[1/2] An area flooded during heavy rainfall is seen in Auckland, New Zealand January 27, 2023, in this screen grab obtained from a social media video. A state of emergency remains in place in Auckland and further south in regional Waitomo. "There has been very significant damage across Auckland," New Zealand new Prime Minister Chris Hipkins told state-owned television station TVNZ Monday. Metservice has issued an updated Heavy Rain Warning for Auckland and Great Barrier Island for 12 hours from Jan. 31 at 6pm (0700 GMT). Auckland Council said if rain continues at this pace there will be further flooding and landslides are expected.

☆ New Zealand's top PM contender wants to change central bank mandate, Ardern's policies
▼ + stars: | 2023-01-25 | by ( Lucy Craymer | ) www.reuters.com time to read: +3 min

WELLINGTON, Jan 25 (Reuters) - New Zealand's main opposition party leader and top prime ministerial contender, Christopher Luxon, wants to change the central bank's mandate and reverse some of former leader Jacinda Ardern's polices if he is elected. Luxon's conservative, centre-right National Party is leading over the governing centre-left Labour Party in opinion polls. There is a general election set for October and with inflation tracking near three-decade highs the cost of living is the key election issue. Luxon said if elected prime minister, he would change the mandate of New Zealand's central bank to focus solely on inflation, provide tax relief and widen immigration settings in an effort to dampen price inflation. Critics say the dual focus has contributed to inflation tracking at near three-decade highs, which has led to aggressive interest rate increases.

☆ New Zealand's Ardern bids emotional farewell on last day as prime minister
▼ + stars: | 2023-01-24 | by ( Lucy Craymer | ) www.reuters.com time to read: +2 min

WELLINGTON, Jan 24 (Reuters) - Jacinda Ardern on Tuesday bid an emotional farewell on her last day as prime minister, speaking of the kindness and empathy New Zealanders have shown her, but said she was ready to be a sister and a mother. "Thank you from the bottom of my heart for the greatest privilege of my life," Ardern told the gathering in a speech. The speeches and accompanying songs and dances that followed saw elders speak with humour and warmth about Ardern. "Thanks so much for teaching us to love quickly," one elder told Ardern. Ardern responded, saying she that hadn't planned to speak but that those there refused to give her an out.

WELLINGTON, Jan 25 (Reuters) - Labour leader Chris Hipkins was sworn in as New Zealand's prime minister in a formal ceremony on Wednesday, following the resignation of outgoing Prime Minister Jacinda Ardern last week. The Labour party elected former COVID-19 Response and Police minister Hipkins, 44, to lead the party and the country on Sunday. Hipkins and his deputy Carmel Sepuloni - the first person of Pacific Islander descent to hold the role - were then sworn in, in a ceremony lasting a few minutes. Hours later, Hipkins met with journalists after his first cabinet meeting as Prime Minister. Chris Hipkins speaks to members of the media, after being confirmed as the only nomination to replace Jacinda Ardern as leader of the Labour Party, outside New Zealand's parliament in Wellington, New Zealand January 21 2023.

☆ New Zealand's Chris Hipkins set to be officially appointed prime minister
▼ + stars: | 2023-01-24 | by ( ) www.reuters.com time to read: +1 min

WELLINGTON, Jan 25 (Reuters) - New Zealand's Governor General will appoint Labour leader Chris Hipkins as prime minister in a formal ceremony on Wednesday, the government said following the resignation of outgoing Prime Minister Jacinda Ardern last week. The Labour party elected former COVID-19 Response and Police minister Hipkins, 44, to lead the party and the country on Sunday. This comes after the surprise resignation of Ardern, 42, who said she had "no more in the tank" to lead the country. Before Hipkins becomes prime minister, Ardern will tender her resignation to King Charles' representative in New Zealand, Governor General Cindy Kiro. Hipkins is then set to hold his first meeting with Labour ministers before fronting to the media.

☆ New Zealand chooses 'Chippy' Hipkins to replace charismatic Ardern
▼ + stars: | 2023-01-22 | by ( Lucy Craymer | ) www.reuters.com time to read: +4 min

"This is the biggest privilege and biggest responsibility of my life," Hipkins said at a news conference announcing his appointment. Hipkins immediately acknowledged the leadership of Ardern, who he called one of New Zealand’s greatest prime ministers and an inspiration to women and girls everywhere. Known as "Chippy", Hipkins built a reputation for competence in tackling COVID-19 and was a troubleshooter for Ardern when other cabinet ministers were struggling. Hipkins named Carmel Sepuloni as deputy prime minister, New Zealand's first deputy prime minister of Pacific origin. Before Hipkins becomes prime minister, Ardern will tender her resignation to King Charles' representative in New Zealand, Governor General Cindy Kiro.

☆ New Zealand's incoming PM says he is 'making haste' on changes in priorities
▼ + stars: | 2023-01-22 | by ( Lucy Craymer | ) www.reuters.com time to read: +1 min

WELLINGTON, Jan 23 (Reuters) - New Zealand's incoming Prime Minister Chris Hipkins said on Monday that his government would be "making haste" on reprioritising and looking at whether current policies need to be scaled down. Hipkins appeared Monday on a number of New Zealand media after he was chosen on Sunday to replace Jacinda Ardern as head of the Labour party, thereby making him the country's next prime minister. Hipkins told TVNZ's Breakfast on Monday that the government would be refocusing on "bread and butter issues" for New Zealand including inflation and would look at reining in other policies, without elaborating. "We'll be making haste on all of those issues," Hipkins told a second morning programme the AM Show. Hipkins is expected to be sworn in as prime minister on Wednesday after Ardern officially resigns.

☆ New Zealand lawmakers confirm Hipkins as Jacinda Ardern's replacement - media
▼ + stars: | 2023-01-22 | by ( Lucy Craymer | ) www.reuters.com time to read: +2 min

He was first elected to parliament for the Labour Party in 2008 and became a household name fronting the government's response to the pandemic. The ruling party is expected to hold a press conference shortly to officially announce the decision from the caucus meeting. The party has also selected Carmel Sepuloni as the deputy prime minister, Radio New Zealand and other media reported. Grant Robertson, who is currently Deputy Prime Minister and Finance Minister, is expected to hold onto the job of Finance Minister. Before Hipkins officially becomes prime minister, Ardern must tender her resignation to King Charles III's representative in New Zealand, Governor General Cindy Kiro.

☆ New Zealand's ruling party confirms Hipkins as new prime minister - Radio New Zealand
▼ + stars: | 2023-01-22 | by ( ) www.reuters.com time to read: 1 min

WELLINGTON, Jan 22 (Reuters) - New Zealand's ruling Labour Party selected Chris Hipkins to replace Jacinda Ardern as leader of the Labour party and prime minister in a meeting on Sunday, Radio New Zealand reported. Hipkins, 44, was the only nomination for the job and his confirmation by the 64 lawmakers, known as the Labour caucus, was largely a formality. Hipkins is expected to hold a news conference shortly to officially announce the decision. Reporting by Lucy Craymer, writing by Praveen Menon; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.

[1/2] Chris Hipkins speaks to members of the media, after being confirmed as the only nomination to replace Jacinda Ardern as leader of the Labour Party, outside New Zealand's parliament in Wellington, New Zealand January 21, 2023. We are different people though, and I'm sure that people will see that," Hipkins told a news conference on Saturday after emerging as the only candidate to lead the ruling Labour Party. First elected to parliament in 2008, Hipkins became a household name fronting the government's response to the pandemic. He was appointed health minister in July 2020 before becoming the COVID response minister at the end of the year. Hipkins is known around parliament for his sense of humour - including an ability to laugh at himself.

☆ New Zealand farmers sour on Ardern’s Labour, complicating new PM's path
▼ + stars: | 2023-01-21 | by ( Lucy Craymer | ) www.reuters.com time to read: +4 min

Rural voters say reforms by Ardern's Labour Party, meant to improve the environmental impact of farming, are costly and ineffective. Farmers worry that the extra costs and work will make their products more expensive and less competitive in foreign markets. The government has proposed an unpopular plan for farmers to pay for methane emissions from their sheep and cows. New Zealand farmers are some of the most efficient in the world. Andrew Hoggard, national president of Federated Farmers, said many Labour regulations were impractical and made farming difficult.

☆ Chris Hipkins set to replace Jacinda Ardern as New Zealand prime minister
▼ + stars: | 2023-01-20 | by ( Lucy Craymer | ) www.reuters.com time to read: +2 min

[1/2] A view shows the Executive Wing of the New Zealand Parliament complex, popularly known as "Beehive" because of the building’s shape, in Wellington, New Zealand July 23, 2020. REUTERS/Praveen MenonWELLINGTON, Jan 21 (Reuters) - Chris Hipkins is set to replace Jacinda Ardern as New Zealand's next prime minister after emerging as the only candidate nominated to lead the Labour Party, the party said on Saturday. Hipkins is expected to be confirmed as the new leader at a meeting of Labour’s 64 lawmakers, or Caucus, on Sunday. Hipkins is currently minister for police, education and public service as well as leader of the House. Hipkins becomes prime minister until the party’s term ends.

☆ Explainer: When is the New Zealand prime minister election and how will it work?
▼ + stars: | 2023-01-20 | by ( Lewis Jackson | ) www.reuters.com time to read: +2 min

SYDNEY, Jan 20 (Reuters) - New Zealand Prime Minister Jacinda Ardern will step down no later than Feb. 7 after a shock resignation on Thursday in which she said she "had no more in the tank". Leadership hopefuls will gather on Sunday when the centre-left Labour party caucus meets to elect a new leader, who will become prime minister. With Labour holding a majority in parliament, whoever they elect will become prime minister, helming the country for a little more than eight months before a general election set for Oct. 14. The caucus vote will be weighted at 40%, party members at 40% and unions at 20%. Transport Minister Michael Wood and Minister of Justice Kiri Allan are newer faces in parliament, elected in 2016 and 2017, respectively.

WELLINGTON, Jan 19 (Reuters) - The shock resignation of New Zealand Prime Minister Jacinda Ardern, who altered the face of global politics when she was elected the world's youngest female head of state, throws a spotlight on the demands faced by women in power. "We need people like Jacinda Ardern in politics. [1/2] New Zealand Prime Minister Jacinda Ardern during the Australia-New Zealand Leaders' Meeting at the Commonwealth Parliamentary Offices in Sydney, Australia, on Friday, July 8, 2022. "Certainly she really challenges the male stereotype of being a prime minister." Former Prime Minister Helen Clark said Ardern had done an "extraordinary job" in leading New Zealand through major crises.

☆ PM Ardern shocks New Zealand, says she is stepping down
▼ + stars: | 2023-01-19 | by ( Lucy Craymer | ) www.reuters.com time to read: +2 min

WELLINGTON, Jan 19 (Reuters) - New Zealand Prime Minister Jacinda Ardern on Thursday made a shock announcement she had "no more in the tank" to continue leading the country and would step down no later than early February and not seek re-election. Ardern, holding back tears, said that it had been a tough five and a half years as prime minister and that she was only human and needed to step aside. A ruling New Zealand Labour Party vote for a new leader will take place on Sunday; the party leader will be prime minister until the next general election. New Zealand Deputy Prime Minister Grant Robertson, who also serves as finance minister, said in a statement he would not seek to stand as the next Labour leader. Ardern said she was not stepping down because the job was hard, but because she believed others could do a better job.

☆ Candidate to replace NZ Ardern to start making their bids
▼ + stars: | 2023-01-19 | by ( Lucy Craymer | ) www.reuters.com time to read: +1 min

WELLINGTON, Jan 20 (Reuters) - Candidates to replace Jacinda Ardern as the country's prime minister after her shock resignation are expected to start to emerge on Friday ahead of a leadership vote on Sunday. If a candidate is unable to secure two thirds of the available votes, the leadership contest will go to the wider membership. The winner will become prime minister until the next general election. Ardern's term as leader will conclude no later than Feb. 7 and a general election will be held on Oct. 14. Commentators point to a number of Ardern's ministers as possible candidates for the role, including the former COVID minister and current Minister of Education and Police Chris Hipkins and current Minister of Justice Kiri Allen.

Her successor as Labour leader and prime minister faces a stern test in a general election in October, with support for the party falling and the country expected to fall into a recession next quarter. Despite her high global profile, Ardern's Labour Party has slid in the polls, hurt by rising living costs, growing crime and concern about social issues. That meant that even with traditional coalition partner the Green Party, polling at 9%, Labour could not hold a majority. Ardern most likely stepped down to give the Labour Party a chance to refresh and reposition itself ahead of an election in October, experts said. CONSERVATIVES BUOYEDThe conservative National Party may be buoyed by Ardern's resignation.

☆ New Zealand business confidence at lowest since 1974
▼ + stars: | 2023-01-16 | by ( Lucy Craymer | ) www.reuters.com time to read: +1 min

WELLINGTON, Jan 17 (Reuters) - New Zealand's business confidence in the fourth quarter of last year hit its lowest level since 1974 as companies grapple with higher interest rates, cost pressures and soft demand, a private think tank said on Tuesday. A net 70% of firms surveyed expected general business conditions to deteriorate compared with 42% pessimism in the previous quarter, the New Zealand Institute of Economic Research's (NZIER) quarterly survey of business opinion (QSBO) showed. It added that business confidence is now at its lowest level since 1974, while on a seasonally adjusted basis it is the weakest since the survey started in 1970. On a seasonally adjusted basis, 73% expected business conditions to worsen, versus 43% pessimism recorded in the previous period. NZIER said the survey was undertaken following the more hawkish than expected central bank meeting in November and this was weighing on sentiment.

☆ New Zealand breweries see CO2 rationing as shortage hits
▼ + stars: | 2023-01-10 | by ( Lucy Craymer | ) www.reuters.com time to read: +2 min

REUTERS/Phil NobleJan 10 (Reuters) - New Zealand supplies of carbon dioxide (CO2), used to fizz drinks and in packaging and hospitals, are having to be rationed because of shortages following the closure of the country's only food-grade CO2 production facility. "We are working collaboratively with suppliers, customers and other industry stakeholders to manage the CO2 supply situation," it added. The rationing is the result of the shut down of a CO2 production facility on west coast of the North Island. To try to fill that gap, CO2 imports almost tripled last year, according to Statistics New Zealand data. ($1 = 1.5708 New Zealand dollars)Reporting by Lucy Craymer in Waipu, New Zealand; Editing by Lincoln FeastOur Standards: The Thomson Reuters Trust Principles.

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