The New Zealand Institute of Economic Research (NZIER) has released its latest report, in which it describes New Zealand’s economic recovery over the upcoming years as “jagged”, along with “bumpy and subdued”. On March 1st, the NZIER released the March 2010 Quarterly Predictions report, which stated that although New Zealand is no longer facing a recession, its economic recovery will be slow and “jagged”. Growth of only 2.7 percent was projected for the 2010 calendar year, and 1.4 percent for 2011. Shamubeel ... Read More

The New Zealand Official Cash Rate (OCR) was left unchanged at its latest review. At the quarterly Reserve Bank OCR Review, on January 28th, it was announced that the rate would remain at its current level of 2.5 percent. Alan Bollard, Reserve Bank Governor, said that the decision comes as a result of the economy remaining consistent with projections made in the December Monetary Policy Statement. He continued on to say that the annual CPI inflation is situated squarely in the target band ... Read More

Bill English, the New Zealand Minister of Finance, has announced that two new directorship appointments have been made to the board of the Reserve Bank of New Zealand. Neil Quigley, a Victoria University Professor of Economics, and Kerrin Vautier, an Auckland-based consulting research economist, were announced to have received the positions on January 19th. The two new appointees replace Alison Paterson and Sir John Goulter, who have served fifteen and ten years respectively in the positions. According to Bill English, the Government was seeking ... Read More