Weekly Digest – 21 August 2024
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.
House prices will rise before the end of the year
The Reserve Bank of New Zealand surprised many by cutting interest rates despite previous indications. Economist Tony Alexander predicts that house prices will be rising before the end of the year, and explains why.
New Zealand delivers first rate cut in over 4 years and flags more easing
New Zealand’s central bank slashed its benchmark rate for the first time since March 2020 and flagged more cuts over coming months, saying inflation was nearing its 1% to 3% target in a sharp dovish tilt that sparked a sell-off in the kiwi dollar.
Reforms to make business safer and easier announced
Companies can look forward to sweeping legal reforms aimed at reducing costs and and making it easier and safer to do business.
People leave New Zealand in record numbers as economy bites
People are leaving New Zealand in record numbers as unemployment rises, interest rates remain high and economic growth is anaemic, government statistics show. Data released by Statistics New Zealand on Tuesday showed that 131,200 people departed New Zealand in the year ended June 2024.
20 Government actions free up the rural economy
The Government’s agricultural team, of Agriculture Minister Todd McClay, Biosecurity, Food Safety and Associate Minister responsible for Animal Welfare Andrew Hoggard, Rural Communities Minister Mark Patterson and Associate Minister responsible for Horticulture Nicola Grigg, are working hard to deliver for the primary sector.
Staffing over the holiday season: What’s legal and what’s not?
The holiday season is a time to unwind. But, if you’re a small business owner, it can bring a level of stress as many New Zealand businesses go into hibernation over Christmas and New Year. Whether you’re open for business or not, what can, and can’t you legally do over the holiday season?
Supermarket pricing errors costing Kiwi shoppers millions each year
The Commerce Commission says Kiwis are likely losing “tens of millions of dollars a year” from supermarket pricing errors. ComCom has also challenged major supermarkets to improve and publicise their refund policies, which it believes are either inadequate or unknown to consumers, to improve the accuracy of their pricing.
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