Friday, May 20, 2011
New Zealand's government Thursday unveiled a bleak annual budget that forecasts a record deficit following a devastating earthquake earlier this year.
Wednesday, May 18, 2011
Prime Minister John Key has vowed to shore up government finances hit by the devastating Christchurch earthquakes in the New Zealand budget rather than making big-spending pre-election promises.
Thursday, May 12, 2011
New Zealand's financial system is positioned to support economic growth, but still faces a volatile and uncertain environment, the central bank said Wednesday. In his latest financial stability report, Reserve Bank of New Zealand governor Alan Bollard said the global economic recovery had become broader, and strong growth in Asia supported commodity producers like New Zealand.
Wednesday, May 11, 2011
The earthquakes that struck New Zealand in September and February will eat up about 7.5 percent its GDP, more than the cost of the recent disaster in Japan on Tokyo's economy, the International Monetary Fund (IMF) said Monday.
Friday, May 6, 2011
New Zealand's unemployment rate edged down 0.1 points to 6.6 percent in the January-March quarter, as the labor market showed signs of improvement, official data showed Thursday.
Wednesday, May 4, 2011
ANZ bank on Tuesday said its first half profits soared 38 percent to a record AU$2.66 billion (US$2.90 billion), but warned that lending growth would slow.
Friday, April 29, 2011
New Zealand's central bank left the official cash rate (OCR) unchanged at 2.5 percent Thursday, warning the economic outlook remained uncertain following the Christchurch earthquake in February.
Tuesday, April 19, 2011
New Zealand's inflation rate hit a two-and-a-half-year high in the 12 months to March on the back of rising fuel, alcohol and tobacco prices, official data released Monday showed.
Friday, March 18, 2011
The earthquake that devastated the city of Christchurch last month will add about US$3.6 billion to New Zealand's budget deficit this year, raising it to 8 percent of gross domestic product, the government said Thursday.
Friday, March 11, 2011
New Zealand's central bank cut its key interest rate to 2.5 percent from 3.0 percent Thursday, saying last month's destructive earthquake in the city of Christchurch is having a disruptive impact on economic confidence.