Bernard Hickey

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Articles by Bernard Hickey

30 Nov 16, 4:57pm
RBNZ wary of increasing use by banks of wholesale offshore funding to fill gap left by falling growth of local deposits; says banks raising deposit and mortgage rates to help fill gap; see long term rates having bottomed out
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30 Nov 16, 4:05pm
RBNZ says Kaikoura quakes could cost NZ$3-8 billion, including up to NZ$3 bln of Govt spend and up to NZ$5 bln of insurance; still confident on economy; says insurers can handle claims
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30 Nov 16, 9:18am
RBNZ warns in Financial Stability Report that housing imbalances remain; Wheeler says won't use Debt To Income multiple restriction 'at this time'; RBNZ notes rising use by banks of 'hot' overseas funds
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28 Nov 16, 11:47am
Finance Minister says rise in long term interest rates since Trump's election sign of normalisation of rates and inflation; should signal to home buyers rates have bottomed out; also will help rebalance NZ$ lower
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28 Nov 16, 11:31am
PM says Treasury's forecasts of blow-out in debt by 2060 without NZ Superannuation changes "a load of nonsense"; says Treasury couldn't get forecasts right 44 days before Budget 'let alone 44 years out'; also downplays weak productivity
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27 Nov 16, 5:02am
Like any building with concrete cancer, trust in a big society-wide idea can seem very solid right up until the moment of collapse
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24 Nov 16, 10:03am
Bill English and Paula Bennett plan to sell up to 2,500 state houses in Christchurch to community housing provider; includes house John Key grew up in; Housing NZ to retain up to 3,900 homes in Christchurch
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23 Nov 16, 1:23pm
Ministers announce cap for Recognised Seasonal Employer (RSE) scheme in 2016/17 raised by 1,000 to 10,500; say allows horticulture and wine exporters to keep growing; Winston Peters rails against National's "immigration madness"
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22 Nov 16, 6:32pm
Treasury publishes Long Term Fiscal Position forecasts; repeats 2013 warning that net debt will blow out to around 200% of GDP by 2060 without changes to NZ Super indexation and age
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21 Nov 16, 11:14am
PM meets with Facebook founder Mark Zuckerberg; says told him to fix public perception that Facebook not paying enough tax; Key says feeling that got Trump got elected because voters believe 'world isn't fair'
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21 Nov 16, 11:02am
John Key and Bill English say pre-election tax cut option still open despite Kaikoura rebuild costs; Key sees NZ$8-9 bln surpluses by 2019/20 so Kaikoura rebuild costs of NZ$2 bln 'not material'; HYEFU may be delayed
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20 Nov 16, 5:02am
Long term bond yields have risen sharply since Donald Trump's election, which is pushing up mortgage rates and the Government's borrowing costs just as it may have to start borrowing again and just as housing markets are cooling
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17 Nov 16, 6:33pm
Data on non-resident purchases shows 3% of property buyers non-residents for tax purposes, but no way of knowing how many of the other 97% are foreign students or temporary workers; new survey detail due in May
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17 Nov 16, 1:49pm
Steven Joyce and Anne Tolley announce NZ$7.5 mln package of support for Kaikoura businesses with less than 20 workers; NZ$500/week per worker for eight weeks, but may be extended; to cost NZ$7.5 mln
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17 Nov 16, 10:23am
Insurers put embargo on transferring home insurance from vendors to buyers from Rakaia to Masterton; Wellington deals frozen as mortgages impossible without insurance, say agents; Boom stopped dead in its tracks
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15 Nov 16, 4:05pm
Finance Minister says Government has strong enough balance sheet to borrow billions of dollars needed to rebuild infrastructure around Kaikoura; says "funding is not an issue", although some other projects could be delayed
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15 Nov 16, 1:06pm
Key says main road and rail route from Picton to Christchurch may need realignment or re-routing in long term at huge cost; English highlights damage to main transport links and says Govt finances can handle repair costs
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14 Nov 16, 6:31am
7.5 earthquake near Hanmer at 12.02 am damages Kaikoura; felt strongly in Wellington; reports of damage in Wellington buildings; Tsunami warning downgraded
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13 Nov 16, 5:02am
President Donald Trump could destabilise China's economy, unleash a new European financial crisis and push up global interest rates in a way that slows New Zealand's economy and makes mortgages more expensive
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10 Nov 16, 7:43pm
RBNZ Governor says economy already growing strongly enough to create necessary inflation; no need for extra help from Government with fiscal stimulus; Wheeler says open to NZ$ intervention
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