Biggest bank moves interest rates after OCR hike   After the Reserve Bank increased the official cash rate to 5.25%, ANZ is raising interest rates on some home loans and deposits. At the time of the OCR announcement, the Reserve Bank announced that it had to raise cash rates in order to maintain retail interest…

Do 74,000 people really have to lose their jobs to save economy?   The Reserve Bank increased the official cash rate to 5.25% on Wednesday, a 50 basis point increase that was twice what economists had predicted. Many had thought weaker-than-expected local and international economic data would prompt the central bank to lift rates by only…

New Zealand achieves first ‘equal cabinet’… One step closer to gender equality in politics   Last year, the ‘Women’s Half Parliament’ was launched from the Jacinda Ardern cabinet   New Zealand’s Chris Hipkins cabinet has reached an ‘equal cabinet’ for the first time in history. It is another achievement following the achievement of a women’s…

Law change ensures sub-contractors are paid retention money when building companies collapse   Changes to the retention fund law for subcontractors   Subcontractors will receive better protection from construction companies that have gone bankrupt after the law is revised. Under the new law, companies holding retention funds for subcontractors must provide regular reports on the…