ocr tagged posts
July 25, 2013 New Zealand Taxation
The OCR has been left unchanged yet again, for the 18th time in a row.
The Reserve Bank announced today that the New Zealand Official Cash Rate (OCR) has been left at 2.5 percent at it latest review.
The Governor of the Reserve Bank Graeme Wheeler explained that the rate remained unchanged as the economic conditions in New Zealand and among its major trading partners has not yet grown and stabilized enough to warrant an increase to the rate.
Explaining the economic situation in New Zealand, the Governor said that consumer consumption and business activity is showing signs of picking up across several sectors, and there is also indication that activity in the construction sector is also on the rise.
However, the economic outlook across the rest of the world remains mixed, with signs of slow...Read More
September 13, 2012 New Zealand Taxation
The OCR will remain unchanged yet again as New Zealand’s economic conditions have not shifted enough to warrant an adjustment.
The New Zealand Official Cash Rate (OCR) was maintained at a rate of 2.5 percent by the Reserve Bank of New Zealand at the latest Monetary Policy review on September 13th.
The Reserve Bank Governor Alan Bollard explained that the OCR was not changed as New Zealand’s economic outlook is still consistent with the forecasts described in the Monetary Policy Statement issued in June.
He explained further that the economic outlook for New Zealand’s major economic partners remains uncertain, with a recession in several countries in Europe and a slowdown of economic activity in China.
Allan Bollard said that the Reserve bank expects that economic activity in New Zealand wi...Read More
March 10, 2011 New Zealand Finance
The Reserve Bank of New Zealand has taken proactively cut the national interest rate, in an effort to aid the recovery from the Christchurch earthquake.
On March 10th the Reserve Bank of New Zealand announced that the Official Cash Rate (OCR) is being dropped by 0.5 percent to a level of 2.5 percent. The adjustment comes as the first rate change after four separate OCR assessments.
Reserve Bank Governor Alan Bollard attributed much of the rate cut decision to to the recent Christchurch earthquake, and the associated negative economic effects. He said that there has been a deep disruption to typical business activity, and at this stage there is little indicative information about how long the impact will last...Read More
December 10, 2010 New Zealand Finance
The New Zealand Official Cash Rate has remained unchanged after its latest review, primarily due to weakened short-term projections for the country’s economic prospects.
On December 9th the Reserve Bank of New Zealand announced that the country’s Official Cash Rate (OCR) will remain unchanged at 3.0 percent. The OCR has remained at 3 percent since July 29th 2010.
At the OCR announcement Reserve Bank Governor Alan Bollard stated that the interest rate is expected to rise slower than previously projected over the next two years. This decision has been attributed to a slowdown in economic growth, and a weakening in several market indicators...Read More