China’s ongoing property market crisis is expected to linger, with experts predicting stability may not return until 2026. For Kiwi businesses, this means a tough environment where weakened consumer confidence and falling demand create persistent hurdles. The roots of China’s property slump back to 2021 with the collapse of Evergrande.…

Mortgage borrowers in New Zealand may soon benefit from a dip in the mortgage rate, with experts and economists estimating a much more favourable borrowing atmosphere ushered in due to good economic conditions. Another 50 basis points deduction to the OCR is expected in February by the Reserve Bank, with…

December has recorded a ninth drop in ten months, making a familiar pattern of declining prices. Such news is a key indicator that a slow recovery may be on the horizon. New Zealand Median Price House values during the year to December have declined by $32,200, or a 3.9% year-on-year…

The September quarter saw a 1% contraction in the New Zealand economy, according to Statistics NZ. This number represents a 1.5% decrease from the same period last year. This decline follows a 1.1% decline in the June quarter, which has formally placed New Zealand in a technical recession, These contractions…

Since August, the OCR has been reduced from 5.5 per cent to 4.25 per cent, but the extent of its impact on the economy remains uncertain. While some benefits have materialised, broader economic activity is yet to show significant recovery. Mortgage rates and 12-month term deposit rates have fallen faster…

Commerce and Consumer Affairs Minister Andrew Bayly spoke of the agenda in a cabinet paper released recently, though no further funds were assigned for execution. The current approach will rectify the incoherence into which all of these strategies have fallen, causing them to fail to tackle sophisticated modern-day online scam…

Chief economist Dominick Stephens said that the official forecasts will likely be downgraded compared to the projections made in Budget 2024. Key economic indicators suggest the downturn will last longer and be more severe than previously thought. The Treasury had originally forecast a 0.2 per cent rise in Gross Domestic…

Overseas debt among students has risen to a record $2.37 billion, of which an estimated $2.2 billion is owed by borrowers living offshore, the majority residing in Australia. In response to this, the IRD has more than doubled the size of its specialist staff and has increased legal action in…

According to ANZ’s chief economist, Sharon Zollner, this trend is fostering a renewed sense of confidence among businesses, with forward-looking indicators showing an upward trajectory. The survey indicates that overall business confidence has increased by five points to a level of +66. In addition, expectations regarding individual business activity have…

This move aims to address growing concerns about the fairness of banking services, especially for farmers and rural communities. Willis has formally requested the Finance and Primary Production committees to conduct the inquiry, highlighting the necessity for a competitive banking environment. This directive stems from a coalition agreement between the…