Resignation of Adrian Orr, Governor of the Reserve Bank of New Zealand
Reserve Bank of New Zealand (RBNZ) Governor Adrian Orr has announced his resignation, with the RBNZ chair confirming it was a personal decision. Orr, who has led the central bank since 2018, will step down later this year. His tenure included navigating economic challenges such as inflation, interest rate hikes, and post-pandemic recovery. While no successor has been named, analysts expect the transition to impact monetary policy direction. The government has acknowledged Orr’s contributions, while market watchers anticipate potential shifts in the RBNZ’s strategy.
Published date: 5 March 2025
Source: 1News
Precinct Properties sells Auckland’s InterContinental Hotel for $180 million
Precinct Properties has agreed to sell the InterContinental Hotel in Auckland for $180 million, marking one of the largest commercial property deals in recent months. The sale is part of the company’s strategy to refocus on office and mixed-use developments. Analysts suggest the transaction reflects strong investor demand for high-end hospitality assets, despite broader economic uncertainty. Precinct Properties plans to reinvest the funds into other key projects across New Zealand.
Published date: 5 March 2025
Source: RNZ
What became more expensive under Reserve Bank Governor Adrian Orr’s tenure?
During Adrian Orr’s leadership at the Reserve Bank of New Zealand (RBNZ), the country experienced significant price increases across key sectors. Housing costs surged due to low interest rates and high demand, while food, fuel, and transport prices also rose amid global inflationary pressures. Mortgage rates climbed sharply as the RBNZ tightened monetary policy to curb inflation. Analysts note that while some price hikes were driven by global factors, domestic monetary policy also played a role in shaping economic conditions.
Published date: 7 March 2025
Source: RNZ
Luxon to meet with Narendra Modi in India next week
New Zealand Prime Minister Christopher Luxon is set to travel to India next week for a meeting with Indian Prime Minister Narendra Modi. The visit aims to strengthen trade, investment, and diplomatic ties between the two nations. Discussions are expected to cover economic cooperation, technology partnerships, and potential trade agreements. Analysts see this as a key step in expanding New Zealand’s engagement with India, one of the world’s fastest-growing economies.
Published date: 10 March 2025
Source: 1News
New Zealand considers tax breaks for migrants under foreign investment fund rules
The New Zealand government is reviewing foreign investment fund (FIF) rules, which could lead to tax breaks for migrants to attract skilled workers and investment. Proposed changes aim to make New Zealand a more competitive destination for global talent and foreign capital. Critics argue such policies must balance economic benefits with fairness for local taxpayers. The government is expected to announce its final decision later this year.
Published date: 12 March 2025
Source: RNZ
New Zealand’s game development industry set to hit $1 billion in exports
New Zealand’s game development industry is on track to reach $1 billion in annual export revenue, driven by strong global demand and government support. The sector has seen rapid growth, attracting international investment and talent. Industry leaders emphasize the need for skilled workforce development and favorable policies to maintain momentum. Analysts believe New Zealand’s game sector could become a major pillar of the country’s technology exports.
Published date: 17 March 2025
Source: RNZ
ASB cuts home loan rates
ASB Bank has reduced its home loan rates, following similar moves by other financial institutions in response to easing inflation and improving market conditions. The rate cuts are expected to offer some relief to homeowners facing higher mortgage payments due to previous interest rate hikes. Experts believe that while the cuts may stimulate the housing market, economic uncertainties remain, and further adjustments will depend on future inflation data and the Reserve Bank’s monetary policy.
Published date: 20 March 2025
Source: RNZ
The Warehouse returns to profitability
The Warehouse has reported a return to profitability after several years of financial struggles. The company saw strong growth in its core retail sales and online business, which contributed to positive financial results. Increased consumer demand, especially in homeware and electronics, played a key role in this recovery. Experts suggest that The Warehouse’s focus on cost control and improving customer experience were vital in reversing its financial performance.
Published date: 22 March 2025
Source: RNZ
Living wage to be increased to $28.95 per hour from September
New Zealand’s living wage will be increased to $28.95 per hour starting in September 2025. This increase marks a significant rise from the current living wage rate and is aimed at addressing the cost of living pressures faced by workers. The decision has been welcomed by advocacy groups who argue that the wage adjustment is necessary to ensure that workers can meet basic living expenses. The increase comes as part of ongoing efforts to support low-income earners and reduce inequality in the country.
Published date: 24 March 2025
Source: RNZ
Reserve Bank’s deposit protection measure could cause deposit interest rate fall
Research suggests that the Reserve Bank of New Zealand’s new deposit protection measure may lead to a reduction in deposit interest rates. The measure, which is designed to protect depositors in case of bank failures, could reduce the cost of deposit insurance for banks, which in turn might lower the interest rates offered to savers. While the protection is expected to enhance the stability of the banking system, experts warn that it may reduce the incentive for consumers to save in high-interest accounts.
Published date: 31 March 2025
Source: RNZ