Tag: bank

Research Shows Cash Hoarding On the Rise in New Zealand

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According to research done by the Reserve Bank of New Zealand (RBNZ) – Te Pūtea Matua, there has been a significant dip in the number of people using cash for everyday purchases. The survey found that just two-thirds of Kiwis were actively using cash daily, compared with nearly the entire…

RBNZ Hikes Benchmark Interest Rate

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In an attempt to cool a heated property market and rising inflation, New Zealand’s central bank has announced a hike in its cash rate by 25 basis points on Wednesday. Economists had expected a hike over a month ago, but the response was shelved following the most recent Covid-19 outbreak…
crypto

Cryptocurrency Going Green

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Cryptocurrency is starting to become more relevant and it’s important for New Zealand to catch up before getting left behind. Cryptocurrencies are not viewed as a financial product and not regulated in New Zealand yet crypto is still growing worldwide. The Reserve Bank has hesitated at referring to cryptocurrency as…

Q2 GDP Surge Exceeds Expectations

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Stats NZ has announced that the economy grew by an unprecedented 2.8% in the second-quarter ending in June. Economists had earlier predicted growth of between 1.1 to 1.5%, comparable to the 1.4% growth registered in the first quarter that ended in March this year. The Reserve Bank of New Zealand…