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Rural News

RBNZ's McDermott warns of low inflation figure likely in September quarter; says inflation likely to be at bottom end of 1-3% target range in December quarter; repeats September OCR comment that "further policy easing will be required"
11th Oct 16, 4:29pm
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RBNZ's McDermott warns of low inflation figure likely in September quarter; says inflation likely to be at bottom end of 1-3% target range in December quarter; repeats September OCR comment that "further policy easing will be required"
Finance Minister signals significant ramping up of house building on Housing NZ Corp land in Auckland; says Govt will be major provider of "medium density, medium-priced" housing in Auckland; suggests Govt may spend on housing rather than tax cuts
10th Oct 16, 8:02am
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Finance Minister signals significant ramping up of house building on Housing NZ Corp land in Auckland; says Govt will be major provider of "medium density, medium-priced" housing in Auckland; suggests Govt may spend on housing rather than tax cuts
NZIER's QSBO finds business confidence improved to 2-year high in Sept qtr; but capacity utilisation measure falls and net 4% report cutting prices
4th Oct 16, 10:02am
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NZIER's QSBO finds business confidence improved to 2-year high in Sept qtr; but capacity utilisation measure falls and net 4% report cutting prices
Bernard Hickey looks at whether to fix or float and how long to fix as the Reserve Bank looks to cut the OCR again later this year and as the banks refuse to pass on lower wholesale rates
23rd Sep 16, 7:52pm
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Bernard Hickey looks at whether to fix or float and how long to fix as the Reserve Bank looks to cut the OCR again later this year and as the banks refuse to pass on lower wholesale rates
RBNZ leaves Official Cash Rate on hold at 2.0% as expected; says "further policy easing will be required"; says a "decline in the exchange rate is needed"; says seeing signs LVR changes and tighter bank lending criteria are moderating housing market
22nd Sep 16, 9:11am
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RBNZ leaves Official Cash Rate on hold at 2.0% as expected; says "further policy easing will be required"; says a "decline in the exchange rate is needed"; says seeing signs LVR changes and tighter bank lending criteria are moderating housing market
Smith says Government looking at becoming a party to Unitary Plan appeals to combat any delays in bringing new housing supply to Auckland market
20th Sep 16, 4:11pm
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Smith says Government looking at becoming a party to Unitary Plan appeals to combat any delays in bringing new housing supply to Auckland market
GDP grew 0.9% in June qtr; up 3.6% from June qtr of 2015; slightly below economists' forecasts; unchanged from revised-up March qtr; construction up 5% in June qtr while household consumption up 1.9%
15th Sep 16, 11:01am
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GDP grew 0.9% in June qtr; up 3.6% from June qtr of 2015; slightly below economists' forecasts; unchanged from revised-up March qtr; construction up 5% in June qtr while household consumption up 1.9%
PM says migrants needed for low-wage jobs such as fruit picking, cafe work because NZers can't or won't do the work, or live elsewhere; says employers cite drug and health problems for locals; migration 'adds value' to country
5th Sep 16, 1:16pm
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PM says migrants needed for low-wage jobs such as fruit picking, cafe work because NZers can't or won't do the work, or live elsewhere; says employers cite drug and health problems for locals; migration 'adds value' to country
Governor defends flexible inflation targeting regime; sticks with MPS view of another 35 bps of OCR cuts; says holding OCR would push up NZ$; but says more aggressive cuts would not lower NZ$ much and would worsen housing imbalances
23rd Aug 16, 9:20am
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Governor defends flexible inflation targeting regime; sticks with MPS view of another 35 bps of OCR cuts; says holding OCR would push up NZ$; but says more aggressive cuts would not lower NZ$ much and would worsen housing imbalances
Statistics NZ reports unemployment fell to 5.1% in June quarter from revised 5.2% in March quarter; Under-utilisation rate, which includes unemployed and those who want more work, at 12.7%; 342,000 out of work or want more work
17th Aug 16, 11:16am
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Statistics NZ reports unemployment fell to 5.1% in June quarter from revised 5.2% in March quarter; Under-utilisation rate, which includes unemployed and those who want more work, at 12.7%; 342,000 out of work or want more work
English says unfair to say Wheeler has failed to meet his performance target on keeping inflation around 2% when global inflation is very low and NZ economy is growing faster than 3%; says 2nd term up to board
16th Aug 16, 1:07pm
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English says unfair to say Wheeler has failed to meet his performance target on keeping inflation around 2% when global inflation is very low and NZ economy is growing faster than 3%; says 2nd term up to board
RBNZ's Wheeler expects banks to pass on most of OCR cut; says RBNZ will send debt to income multiple limit plan to English in next week or two, but unlikely to be introduced this year; says migration putting downward pressure on wages
11th Aug 16, 11:11am
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RBNZ's Wheeler expects banks to pass on most of OCR cut; says RBNZ will send debt to income multiple limit plan to English in next week or two, but unlikely to be introduced this year; says migration putting downward pressure on wages
RBNZ cuts OCR by 25 bps to 2.0% and forecasts just one more cut; NZ$ sprints over 73 USc after markets had forecast chance of 50 bps cut
11th Aug 16, 9:12am
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RBNZ cuts OCR by 25 bps to 2.0% and forecasts just one more cut; NZ$ sprints over 73 USc after markets had forecast chance of 50 bps cut
It is not home owners who suffer when banks divert OCR cuts to protect their profit margins, it is small business and farmers who pay the costs. We describe bank funding motivations
8th Aug 16, 9:48am
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It is not home owners who suffer when banks divert OCR cuts to protect their profit margins, it is small business and farmers who pay the costs. We describe bank funding motivations
Partial jobs and wages data weaker than expected in June quarter; private sector wage inflation soft at 0.4% for qtr and 1.6% for year; economists see plenty of room for RBNZ to cut OCR next Thursday
3rd Aug 16, 12:33pm
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Partial jobs and wages data weaker than expected in June quarter; private sector wage inflation soft at 0.4% for qtr and 1.6% for year; economists see plenty of room for RBNZ to cut OCR next Thursday
LINZ data for June quarter shows 3% of buyers say they are foreign tax residents, but data doesn't include overseas students or tempory work visas, or trusts and corporates; LINZ says more reliable data due in a year
1st Aug 16, 2:21pm
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LINZ data for June quarter shows 3% of buyers say they are foreign tax residents, but data doesn't include overseas students or tempory work visas, or trusts and corporates; LINZ says more reliable data due in a year
Statistics NZ has taken the most unusual step of delaying release of the Household Labour Force Survey for two weeks
29th Jul 16, 2:00pm
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Statistics NZ has taken the most unusual step of delaying release of the Household Labour Force Survey for two weeks
RBNZ says inflation outlook has weakened due to 6% rise in NZ$ since June 9; says 'decline in exchange rate needed' as it's making it hard for RBNZ to meet inflation target; says likely further easing required
21st Jul 16, 9:09am
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RBNZ says inflation outlook has weakened due to 6% rise in NZ$ since June 9; says 'decline in exchange rate needed' as it's making it hard for RBNZ to meet inflation target; says likely further easing required
RBNZ acts to urgently tighten lending to investors; proposes 60% LVR limit for rental property investors nation-wide from Sept 1; also plans to tighten LVR lending above 80% for other borrowers
19th Jul 16, 9:14am
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RBNZ acts to urgently tighten lending to investors; proposes 60% LVR limit for rental property investors nation-wide from Sept 1; also plans to tighten LVR lending above 80% for other borrowers
CPI up 0.4% in June quarter and up 0.4% from a year ago; Economists had expected around 0.5% for both; RBNZ had forecast 0.6%; Auckland rents up 3.5% and Auckland new house costs up 7.6% from year ago
18th Jul 16, 10:52am
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CPI up 0.4% in June quarter and up 0.4% from a year ago; Economists had expected around 0.5% for both; RBNZ had forecast 0.6%; Auckland rents up 3.5% and Auckland new house costs up 7.6% from year ago
Recommendations for foreign trusts having stronger initial registration rules and need for annual returns with distribution details will be 'moved on quickly' by Govt
13th Jul 16, 11:48am
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Recommendations for foreign trusts having stronger initial registration rules and need for annual returns with distribution details will be 'moved on quickly' by Govt
RBNZ's Spencer toughens call for review of migration settings; English says RBNZ doesn't have detailed understanding of tax and migration policy, and may have missed recent moves
11th Jul 16, 10:30am
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RBNZ's Spencer toughens call for review of migration settings; English says RBNZ doesn't have detailed understanding of tax and migration policy, and may have missed recent moves
Andrew Little announces second tranche of Labour's Housing policy; plans to build add net extra 1,000 state houses each year; return housing assessment to Housing NZ from WINZ; Housing would stop paying dividends; use funds to build houses instead
9th Jul 16, 12:19pm
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Andrew Little announces second tranche of Labour's Housing policy; plans to build add net extra 1,000 state houses each year; return housing assessment to Housing NZ from WINZ; Housing would stop paying dividends; use funds to build houses instead
Key doubles down on instruction to RBNZ to move faster on LVRs, despite RBNZ speech saying it will only tighten LVR rules by end of 2016; Key also rejects RBNZ suggestion for migration review
8th Jul 16, 6:16pm
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Key doubles down on instruction to RBNZ to move faster on LVRs, despite RBNZ speech saying it will only tighten LVR rules by end of 2016; Key also rejects RBNZ suggestion for migration review
Key says expects RBNZ to take extra measures to limit lending to rental property investors in Auckland and other high growth areas; RBNZ to speak on Thursday on housing market and Macro-Prudential policy
5th Jul 16, 2:33pm
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Key says expects RBNZ to take extra measures to limit lending to rental property investors in Auckland and other high growth areas; RBNZ to speak on Thursday on housing market and Macro-Prudential policy