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Search resuls for: "Kelly Eckhold"


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RBNZ to leave rates this month given persistent core inflation
  + stars: | 2024-08-14 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEconomist expects RBNZ to leave rates steady this month given persistent core inflationKelly Eckhold from Westpac New Zealand says the RBNZ is likely to downgrade economic forecast given the latest weakness in the economy, despite leaving rates steady this month.
Persons: RBNZ, Kelly Eckhold Organizations: Westpac New Zealand
Prime Minister and Labour Party Leader Chris Hipkins speaks at the New Zealand Labour Party’s election campaign launch event in Auckland, New Zealand, September 2, 2023. However, Hipkins, 45 said Labour was starting to see momentum build in the final hours of campaigning. “We are expecting a really huge turnout ... and we’re expecting a really strong result tomorrow night," Hipkins, 45, told reporters. Polls predict that the nationalist New Zealand First Party will hold the balance of power. The party was Labour’s coalition partner in 2017 but has said it will not work with Labour again.
Persons: Chris Hipkins, David Rowland, Hipkins, Jacinda Ardern, we’re, Christopher Luxon, you've, ” Luxon, walkabouts, , Kelly Eckhold, Lucy Craymer, Stephen Coates Organizations: Labour Party, New Zealand Labour, REUTERS, Rights, Zealand, Labour, ACT Party, New Zealand First Party, National Party, MMP, Zealanders, , Westpac, Thomson Locations: Auckland , New Zealand, Hipkins
[1/2] Christopher Luxon, Leader of the National Party, speaks at the New Zealand National Party’s election campaign launch in Auckland, New Zealand, September 3, 2023. That will stiffen the challenge for the nation's two major parties, the centre-left Labour Party and the centre-right National Party, to deliver its agenda where rising prices and government debt have been hot-button election issues. At the same time government borrowing costs are increasing and the country’s ballooning current account deficit poses a risk to the country’s credit rating. Kelly Eckhold, chief economist at Westpac New Zealand said tough fiscal choices face an incoming government. ($1 = 1.6551 New Zealand dollars)Reporting by Lucy Craymer Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.
Persons: Christopher Luxon, David Rowland, won’t, Kelly Eckhold, , Lucy Craymer, Shri Navaratnam Organizations: National Party, New Zealand National, REUTERS, Rights, Labour Party, Bank, Bank of New, National, Statistics New Zealand, Reserve Bank of New, Labour, NZ, Westpac New Zealand, Zealand, Thomson Locations: Auckland , New Zealand, Bank of New Zealand, New Zealand, Zealanders, Reserve Bank of New Zealand
New Zealand's Economy Poses Challenge for Election Victor
  + stars: | 2023-10-10 | by ( Oct. | At P.M. | ) www.usnews.com   time to read: +4 min
That will stiffen the challenge for the nation's two major parties, the centre-left Labour Party and the centre-right National Party, to deliver its agenda where rising prices and government debt have been hot-button election issues. “The Reserve Bank will need the government to do its bit if it is to cap the cash rate at the 5.5% it currently suggests,” analysts at Bank of New Zealand said in a note. DEBT, AND MORE DEBTThe biggest challenge for many New Zealanders is mortgage rates. At the same time government borrowing costs are increasing and the country’s ballooning current account deficit poses a risk to the country’s credit rating. Kelly Eckhold, chief economist at Westpac New Zealand said tough fiscal choices face an incoming government.
Persons: Lucy Craymer WELLINGTON, won’t, Kelly Eckhold, , Lucy Craymer, Shri Navaratnam Organizations: Reuters, Labour Party, National Party, Bank, Bank of New, National, Statistics New Zealand, Reserve Bank of New, Labour, NZ, Westpac New Zealand, Zealand Locations: Bank of New Zealand, New Zealand, Zealanders, Reserve Bank of New Zealand
View of an entrance to the Reserve Bank of New Zealand in Wellington, New Zealand November 10, 2022. “Interest rates are constraining economic activity and reducing inflationary pressure as required,” the central bank said in a statement. The past RBNZ rate hikes have sharply slowed New Zealand’s economy but recent data showed it was tracking above central bank expectations at 0.9% quarterly growth. The central bank releases a comprehensive update of economic indicators and the forecast official cash rate track when it publishes its quarterly Monetary Policy Statement (MPS), which is due on Nov. 29. “The Bank appears content to wait for restrictive policy settings to fully feed through to the real economy,” analysts at Capital Economics in a note.
Persons: Lucy Craymer, , Kelly Eckhold, Organizations: WELLINGTON, Reuters, Reserve Bank of New, REUTERS, Bank of New Zealand, New Zealand, Westpac NZ, U.S . Federal Reserve, Capital Economics Locations: Reserve Bank of New Zealand, Wellington , New Zealand, Global, New Zealand
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