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With the official cash rate rising three times already this year - and deposit account interest rates not keeping pace, on average, with those changes - CANSTAR analysis finds that it is more important than ever for savers to shop around for a good rate on their cash.
Five exploration permits have been awarded in the South Island to a new international minerals exploration company as a result of the New Zealand Platinum Tender 2013.
The seasonally adjusted value of goods exported fell 7.4 percent to $12.4 billion in the June 2014 quarter, Statistics New Zealand said today. This follows a 0.9 percent increase in the March 2014 quarter, and large increases for the September 2013 and December 2013 quarters.
Following today’s increase in the OCR, a period of stability would be positive for the economy, says BusinessNZ.
Chief Executive Phil O’Reilly said a pause in the upward trajectory of the OCR was now called for.
CURRENCY: The RBNZ will decide NZD/USD direction, but we expect NZD to decline in the coming weeks. The EUR is unlikely to find support from July activity updates, but China and US updates should be supportive for growth.
The NZD/USD sits fractionally higher at 0.8690 this morning, ahead of the RBNZ’s (9am NZT) meeting.
Xero’s vision to connect small business to big business is now a reality with Warehouse Stationery today announced as the next major New Zealand corporate to integrate with Xero.
By Ric Spooner (Chief Market Analyst, CMC Markets)
A set of Goldilocks, not too warm not too hot, US economic data combined with BHP’s strong production report will set a positive early tone to today’s trading.
Today’s announcement from Fonterra that up to 110 jobs will be cut at its Canpac facility in the Waikato shows the dangers of relying on dairy exports to China to sustain our economy, says the Engineering, Printing and Manufacturing Union.
Demand for talent continues to accelerate in the Canterbury region with a 16 per cent year-on-year (June 2013 - June 2014) increase in new job ads, following a four year high in employment opportunities in May, says SEEK, New Zealand’s leading employment marketplace.
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