Changes in Kiwis’ work and shopping/consumption patterns after Covid-19 pandemic   While the economy has shown signs of recovery after the pandemic, a new report shows that the number of people working from home has increased while spending in New Zealand’s largest city, Auckland, has decreased. The number of tourists in Auckland’s CBD area has…

RBNZ raised the benchmark interest rate to 5.25%, the highest since 2008 RBNZ raised interest rates by another 50bp to a record high not seen since the 2008 global financial crisis. This aggressive tightening policy reset the OCR to 5.25% while trying to suppress soaring inflation. The central bank originally expected the OCR to peak…

RBNZ, Interest rate raised by 0.5%p   The Central Bank of New Zealand has raised interest rates by 0.5%p in a surprise move. It appears to have preemptively raised interest rates ahead of next month’s Federal Open Market Committee (FOMC) meeting in the United States. On the 5th, the Central Bank of New Zealand held…

RBNZ, Which took a ‘surprise big step’… The benchmark interest rate is at its highest level in 14 years   According to Reuters on the 5th, the Reserve Bank of New Zealand (RBNZ) suddenly raised interest rates by 0.5 points at once, which is called a ‘big step’ (raising the benchmark interest rate by 0.5…