ANZ “RBNZ to Keep Rates Unchanged in August Meeting”   Anticipation has arisen that the Reserve Bank of New Zealand (RBNZ) will maintain the official cash rate (OCR) at 5.5% during the August monetary policy meeting. ANZ’s economist Sharon Zollner stated that the RBNZ is likely to uphold its stance of “watching and waiting.” This…

KiwiSaver Continues Asset Rebound   The KiwiSaver funds are maintaining their upward trajectory amidst global market recovery, as reported by RNZ. According to recent research by investment firm Morningstar, KiwiSaver assets have increased from $91.9 billion in the past quarter to $98 billion by the end of the second quarter. All multi-sector KiwiSaver funds recorded…

Westpac Plans 0.25% OCR Increase at Year-End, Forecasts Rise in Inflation Next Year   Financial institution Westpac is set to raise the official cash rate (OCR) by 0.25% points at the year’s end, with expectations of further inflationary pressures in the coming year. According to the latest economic overview, Westpac continues to assess New Zealand’s…

Mixed reaction to government’s multi-billion Auckland harbour tunnels plan   Last Sunday, the Labour government revealed plans to construct three new tunnels as part of their election promise, forming a new harbor bridge spanning the Waitematā Harbour in Auckland. Of these, two will be dedicated underwater tunnels for automobiles, and one will be a light…