The New Zealand economy is showing definite signs of recovery, though warnings have been given not to over-estimate its pace. According to statements made by John Key, New Zealand Prime Minister, and reports by the New Zealand Reserve Bank, the economy will continue to recover over the second half of 2009. The Prime Minister said that the New Zealand GDP in the fourth quarter will be “quite good” and that the third quarter figure “won't be bad either”. The recovering economic figures ... Read More

The New Zealand Official Cash Rate experienced no cuts or additions in its 30th of June review. For the second review in a row Reserve Bank Governor Alan Bollard has opted not to increase the Official Cash Rate (OCR) of New Zealand. The change came as no big surprise to commentators or market participants, with no movements of particular note to be seen on the foreign exchange or equity market. In regards to the decision, Alan Bollard, in a Reserve Bank release said ... Read More

Analysts outlook has predicted that the Reserve Bank will not make any further cuts to the Official Cash Rate (OCR) in its July 30th revision. The New Zealand OCR as set by the Reserve bank is currently at 2.5%. With an end seemingly in sight for New Zealand and the recession it is now facing, there is no obvious need for further reductions in the OCR, which is already at a record low level. A survey conducted by Reuters of 16 analysts has ... Read More