Articles tagged with Rates
Finance Minister Hails OCR Cut, Easing Pressure on Kiwi Households and Businesses
3 weeks ago | 127 viewsFinance Minister Nicola Willis highlights the positive impact of the 50 basis point Official Cash Rate reduction on Kiwi households and businesses, easing financial pressure. The reduction in OCR will lead to lower interest rates for mortgage-holders and businesses, stimulating growth and investment. The Government's focus on responsible economic management, along with lower interest rates, aims to support recovery and drive policies for job and income growth to benefit all New Zealanders.
Tags: Official Cash Rate Kiwi households Finance Minister Nicola Willis monetary policy interest rates growth jobs investment inflationNew Zealand Government Implements Groundbreaking Animal Welfare Reforms for Pigs by 2035
1 month ago | 228 viewsThe Government of New Zealand is proposing changes to the Animal Welfare Act 1999 to improve welfare outcomes for pigs, including new requirements for farrowing crates and mating stalls, with the regulations set to take effect on December 19, 2035. These changes aim to elevate animal welfare standards in New Zealand, balancing the needs of the farming industry with public expectations, following extensive consultation with stakeholders. The proposed amendments will increase minimum spacing for grower pigs, limit sow confinement in farrowing crates to seven days, and restrict mating stall use to three hours at a time, emphasizing the importance of providing manipulable materials and meeting space requirements for pigs.
Tags: Animal Welfare Act 1999 pigs New Zealand Andrew Hoggard farrowing crates mating stalls space requirements farmers regulations welfare outcomesGlobal Uncertainty Impacts Economy: Minister Willis on Latest Stats NZ Data
1 month ago | 248 viewsFinance Minister Nicola Willis highlighted the impact of global uncertainty on consumers and businesses based on released economic data. Stats NZ reported a 0.9% decline in real Gross Domestic Product in the second quarter following an initial increase. Willis attributed this downturn to international turmoil and tariffs affecting investment decisions. Looking ahead, there are positive signs of economic recovery, with lower interest rates, increased mortgage lending, and a forecasted strengthening of economic growth as tariff-related uncertainty diminishes.
Tags: Economic data global uncertainty consumers businesses Finance Minister Nicola Willis Gross Domestic Product tariffs investment decisions interest ratesNew FIT Partnership Boosts Trade and Investment Opportunities
1 month ago | 218 viewsNew Zealand, Singapore, the United Arab Emirates, and Switzerland have formed the Future of Investment and Trade (FIT) Partnership to enhance trade and investment opportunities and support economic growth. The partnership includes several other countries like Brunei, Costa Rica, and Iceland, among others. Discussions on establishing the FIT Partnership began a year ago, with a focus on practical initiatives to open markets, attract investment, and remove barriers to benefit businesses and strengthen supply chains.
Tags: New Zealand Singapore United Arab Emirates Switzerland Todd McClay Brunei Costa Rica Iceland Liechtenstein MoroccoNew Zealand's Push for Suicide Prevention: Construction Industry Wellbeing Survey Launch
1 month ago | 267 viewsMental Health Minister Matt Doocey participated in the launch of the Construction Industry Wellbeing Survey on World Suicide Prevention Day, emphasizing the importance of changing the narrative on suicide to reduce stigma and encourage seeking help. New Zealand faces high suicide rates, with 617 suspected suicides last year, leading to increased investment of $16 million per year in the new Suicide Prevention Action Plan, which includes various health and cross-agency actions to enhance access to support and prevention services. The government is committed to providing timely support for those at risk of suicide, promoting wellbeing campaigns, establishing crisis recovery cafes, and funding peer support workers in emergency departments to strengthen suicide prevention efforts in New Zealand.
Tags: Mental Health Minister Matt Doocey Suicide Prevention Construction Industry Wellbeing Survey New Zealand Suicide Prevention Action Plan Suicide Rates SupportNew Zealand–UAE Trade Agreement Brings Major Benefits and Opportunities
2 months ago | 344 viewsThe New Zealand–United Arab Emirates Comprehensive Economic Partnership Agreement (CEPA) has come into effect, offering significant tariff savings and market access for Kiwi exporters. Key goods like dairy, red meat, and fruit will now enter the UAE duty-free, with the agreement aiming to enhance trade and investment opportunities between the two countries. The CEPA also paves the way for increased bilateral trade, job creation, and economic growth, aligning with New Zealand's export expansion goals.
Tags: New Zealand United Arab Emirates Comprehensive Economic Partnership Agreement Todd McClay Agriculture Trade Investment Minister CEPA Kiwi exporters tariff savingsNew Zealand's Gender Pay Gap Shrinks to 5.2% - Historic Low
2 months ago | 292 viewsNew Zealand's gender pay gap decreased from 8.2% to 5.2% in the June 2025 quarter, the lowest since data collection began in 1998, as reported by Stats NZ. Minister for Women, Nicola Grigg, hailed the improvement as positive news for women in the country. The government is dedicated to economic growth, with efforts to reduce pay gaps, increase wages, and create more job opportunities, though challenges persist in addressing ethnic pay gaps.
Tags: New Zealand gender pay gap Stats NZ Nicola Grigg Minister for Women wages inflation interest rates economic empowerment ethnic groupsGovernment Expands Community Magistrates' Role to Streamline District Court Process
2 months ago | 347 viewsThe Government, led by Associate Justice and Courts Minister Nicole McKee, plans to expand the jurisdiction of Community Magistrates in the District Court to enhance efficiency and reduce delays. This expansion will enable Community Magistrates to handle guilty pleas for most offenses, manage a broader range of cases, and issue community-based sentences. The initiative aims to streamline court processes, alleviate pressure on judges, and provide faster justice outcomes for victims, with budget support for additional Community Magistrates and training oversight.
Tags: Government Community Magistrates Justice System District Court Nicole McKee Legislation Judges Court Proceedings Victims Budget 2025How Falling Interest Rates Benefit Growth, Businesses, Jobs, and Kiwis: Finance Minister's Insights
2 months ago | 310 viewsFinance Minister Nicola Willis highlights the benefits of falling interest rates, including support for growth, businesses, job creation, and mortgage holders. The Reserve Bank has reduced the Official Cash Rate (OCR) from 3.25 to 3 percent, with further decreases expected. Lower interest rates stimulate economic activity, reduce mortgage repayments, and are seen as a positive response to economic challenges, signaling improving conditions and effective economic management by the government.
Tags: interest rates growth businesses jobs Kiwis mortgages Finance Minister Nicola Willis Reserve Bank Official Cash RateFinance Minister Nicola Willis Reacts to Lower Than Forecast Unemployment Rates
3 months ago | 468 viewsFinance Minister Nicola Willis has acknowledged the latest labour market data, revealing a lower-than-expected unemployment rate of 5.2% for the June quarter, below the Treasury's forecast of 5.4%. Despite challenges like inflation and rising interest rates, the government's efforts have led to 8,000 fewer unemployed individuals than initially projected, with a focus on economic recovery and job creation through initiatives like government-funded construction projects and investment incentives. Additionally, there has been a notable increase in average hourly earnings by 4.5% in the past year, surpassing the inflation rate of 2.7%.
Tags: labour market unemployment Finance Minister Nicola Willis Stats NZ Treasury forecast economic management inflation interest rates job creationUnderstanding Council Spending: Impact on Rates & Communities | Local Government Minister Simon Watts
3 months ago | 865 viewsLocal Government Minister Simon Watts emphasizes the importance of councils' spending transparency and its impact on ratepayers. The government aims to empower ratepayers by providing clear data on council performance and spending, allowing for better engagement and accountability. Additionally, there is a focus on councils delivering essential services efficiently and supporting communities through a potential rates capping system to ensure responsible spending.
Tags: Key metrics councils spending rates Local Government Minister Simon Watts ratepayers infrastructure fiscal management local governmentFinance Minister Nicola Willis: Inflation Under Control as Govt Focuses on Economic Growth
3 months ago | 706 viewsNew data released by Stats NZ today shows inflation at 2.7 per cent for the 12 months to the June 2025 quarter, remaining within the Reserve Bank's target range, according to Finance Minister Nicola Willis. This marks the fourth consecutive quarter of inflation being within the target range, contrasting with previous higher rates under the previous government. Local authority rates and payments were noted as the largest contributor to annual inflation, prompting the government to call for better management to keep rates under control and ensure economic growth for job creation and public services funding.
Tags: inflation Finance Minister Nicola Willis Stats NZ Consumers Price Index Reserve Bank New Zealanders council rates local authority rates economic growth New ZealandGovernment Bill Enhances Focus on Core Council Services for Better Value
3 months ago | 587 viewsThe Local Government (System Improvements) Amendment Bill aims to refocus councils on core services like roading, infrastructure, water, and waste, addressing public frustration over rising rates and declining services. Minister Simon Watts emphasizes the need for discipline, transparency, and performance improvement to benefit ratepayers. The Bill includes reforms such as prioritizing core services in managing finances, introducing new financial performance measures, and enhancing transparency and accountability, with the goal of delivering better value for money and avoiding new taxes for local authorities.
Tags: Government councils core services infrastructure rates transparency accountability financial focus local government Simon WattsNew Zealand’s Stable Economy: Government’s Fiscal Management Keeps Official Cash Rate Low
3 months ago | 840 viewsThe Government’s responsible fiscal management has supported the Reserve Bank to keep the Official Cash Rate low, Finance Minister Nicola Willis says. The Reserve Bank of New Zealand today announced it would keep the Official Cash Rate (OCR) at 3. 25 per cent while continuing to foreshadow further reductions in the OCR.
Tags: Government fiscal management Reserve Bank Official Cash Rate Finance Minister Nicola Willis New Zealand OCR interest rates economic management