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…

New Zealand to Achieve World’s First 100% Renewable Energy-Powered Grid by Late 2030s   On the 8th, the New Zealand government announced its collaboration with the prominent U.S. investment firm, BlackRock, with a groundbreaking commitment to operate the world’s first national power grid solely on 100% renewable energy sources by the end of the 2030s….

Second Auckland Harbor Crossing: Government-Backed Tunnel, Ambitious Plan Announced   Prime Minister Chris Hipkins announced a phased, large-scale plan worth $35-45 billion to build a second harbor crossing in Auckland, along with additional transport upgrades for the North Shore. The plan includes a new road tunnel, called the second harbor bridge, and a train tunnel…