Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "Kiwibank"


9 mentions found


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.
Sterling was just a touch higher at $1.2038 having slumped to a three-week low of $1.1993 overnight. The number of Americans filing new claims for unemployment benefits increased less than expected last week, pointing to a still-tight labour market, data released on Thursday showed. BOJ SURPRISEThe yen was marginally lower at 132.39 per dollar on Friday, but was on track for its third largest weekly gain this year of more than 3%. "Japan's inflation figures will be closely scrutinised from here on," said Carol Kong, a currency strategist at Commonwealth Bank of Australia. Elsewhere in Asia, the Chinese offshore yuan rose slightly to 7.0038 per dollar.
Dollar steady after strong U.S. data, yen set for weekly gain
  + stars: | 2022-12-22 | by ( ) www.cnbc.com   time to read: +3 min
The euro was up slightly against the dollar, standing 0.16% higher at $1.061, after slipping less than 0.1% on Thursday. Yet the Japanese currency was on track for a weekly gain of around 3% after the Bank of Japan (BOJ) tweaked a key bond market policy earlier this week. The Japanese currency jumped almost 4% on Tuesday - its biggest daily rise since 1998 - after the BOJ changed a key policy, making Japanese assets look more attractive. "Getting to 130 (yen per dollar) is certainly possible," said Erik Nelson, macro strategist at Wells Fargo. Nelson said that low trading volumes going into the holidays were causing currencies to fluctuate more than usual.
Dollar falters as investors challenge Fed's hawkishness
  + stars: | 2022-12-15 | by ( Rae Wee | ) www.reuters.com   time to read: +3 min
The kiwi fell 0.05% to $0.6456, though it was similarly not far off the six-month peak of $0.6513 it hit this week. The 50 bp increase marked a downshift after four consecutive 75 basis point rate hikes. Against a basket of currencies, the U.S. dollar index was last 0.02% higher at 103.68, after touching a six-month low in the previous session. Fed funds futures also show that markets are expecting U.S. rates to peak just under 5% by May next year. Elsewhere, the Aussie was last 0.05% lower at $0.6860, while the dollar slipped 0.06% against the Japanese yen to 135.40.
Dollar slips on recession fears; central bank meetings loom
  + stars: | 2022-12-09 | by ( ) www.cnbc.com   time to read: +3 min
The dollar eased on Friday as worries over a slowdown in the United States mounted, with traders on guard ahead of a slew of central bank meetings next week, where the Federal Reserve takes centerstage. Against the greenback, the euro rose nearly 0.5% overnight and edged toward a six-month peak hit at the start of the week. It was last 0.23% higher at $1.0579, and is on track for a third straight week of gains. Sterling similarly eked out a small gain overnight and last rose 0.23% to $1.22695, not far off Monday's six-month high of $1.2345. The European Central Bank and the Bank of England will also announce their monetary policy decisions next week, with markets keenly watching for guidance on 2023's outlook.
Dollar slips on recession fears, c.bank meetings loom
  + stars: | 2022-12-09 | by ( Rae Wee | ) www.reuters.com   time to read: +3 min
[1/2] U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. Against the greenback, the euro rose nearly 0.5% overnight and edged toward a six-month peak hit at the start of the week. It was last 0.23% higher at $1.0579, and is on track for a third straight week of gains. Sterling similarly eked out a small gain overnight and last rose 0.23% to $1.22695, not far off Monday's six-month high of $1.2345. An inversion of this yield curve is typically a precursor to recession.
New Zealand house prices forecast to drop 18% from peak
  + stars: | 2022-11-23 | by ( Vivek Mishra | ) www.reuters.com   time to read: +3 min
Average house prices in the country rose by more than 40% at the height of the pandemic before reaching a peak in November last year at levels the Reserve Bank of New Zealand (RBNZ) said were unsustainable. Still, that fall would be tiny compared to the 250% rise in New Zealand house prices since 1998, almost four times the average increase across OECD countries. House prices have nearly doubled in the last seven years alone. Asked how much average house prices would fall from peak to trough, analysts who answered an additional question gave a median estimate of 18%, with forecasts in a 14%-23% range. But a lot needs to happen to better balance the housing market here with a horrible undersupply of houses," said Jarrod Kerr, chief economist at Kiwibank.
WELLINGTON, Nov 22 (Reuters) - New Zealand's central bank is expected to deliver its biggest ever rate point hike this week as it continues efforts to temper inflation ahead of a three-month break. A Reuters poll found 15 of 23 economists expect the central bank to lift the cash rate by a record 75 basis points. HOME AND AWAYNew Zealand-based economists are more hawkish than their international counterparts, unanimously expecting the central bank to hike by 75 basis points. The central bank will also release new economic forecasts and potentially an updated cash rate track. "It all comes down to the language around the OCR (official cash rate) track and its shape," said Kiwibank in a note.
WELLINGTON, Nov 2 (Reuters) - New Zealand's jobless rate held at 3.3% in the third quarter, and wage inflation hit its highest level on record, adding to expectations the central bank will increase interest rates by a historic 75 basis points at its next meeting. HOT JOB MARKETThis tightness saw wage inflation hit its highest levels since the survey began in 1993 with third-quarter seasonally adjusted private sector wages up 3.8% on the previous year. Wage inflation highlights the extent of the challenge that the RBNZ faces bringing inflation under control, Michael Gordon, acting chief economist at Westpac said in a note. "There is no room for relenting on the path to higher interest rates yet," he said. New Zealand inflation is running at 7.2%, far above the central bank's target of 1-3% over the medium term.
Total: 9