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22 Sep 2021 5:13
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  •   Home > News > Business

    It's good news for the economy - but bad news for interest rates

    It's good news for the economy - but bad news for interest rates


    A sharp fall in the last quarter has seen unemployment drop to four percent.

    Kiwibank chief economist Jarrod Kerr says employers are screaming for staff and wages are on the rise - suggesting we're near full employment and need to open our borders.

    He believes the Reserve Bank will raise the Official Cash Rate 25 basis points later this month, to half a percent.

    NZ and ANZ are both predicting the OCR will go up three times before the end of the year, to one per cent.

    ANZ's also forecasting two more increases in the first half of next year, to 1.5 per cent.

    © 2021 Newstalk ZB, NZCity

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    Kiwis in the country's most populated regions have seen a dip in confidence More...



     Today's News

    Soccer:
    The Wellington Phoenix are happy to roll with the punches 21:55

    Auckland:
    One person's been critically injured in a crash involving a motorcycle and a car in Auckland's Papakura 21:15

    International:
    Aged care campaigner, community activist and former ACOSS president Merle Mitchell has died 21:05

    Accident and Emergency:
    Paragliders watched helplessly from the air as a fellow pilot crash landed on Te Mata Peak's cliff face this afternoon 20:25

    Law and Order:
    87 people have been charged in Auckland during Alert Level 4 - many caught breaching Covid restrictions 18:35

    Politics:
    Justin Trudeau's Liberal Party claims victory and 'clear mandate', but falls short of majority win 18:15

    Rugby League:
    The Wellington Phoenix are ready to relocate for a third straight season 18:05

    Accident and Emergency:
    Rescue efforts are underway for a paraglider who's crashed on the Hawke's Bay Te Mata Peak, just before 5pm 17:25

    Health & Safety:
    Kiwis are being urged not to get too carried away by today's 14 community cases 16:55

    Cricket:
    The group of 24 Black Caps players and staff are set to depart the United Arab Emirates shortly on a flight bound for New Zealand 16:15


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