About
A senior journalist and news editor with interest.co.nz, David Hargreaves has covered financial markets and economics both in New Zealand and Britain for longer than he cares to mention.
David Hargreaves
Latest articles
David Hargreaves says it looks too late to 'save' this year, but if we can beat inflation, then the RBNZ will call off the dogs and the prospects for next year will be for a gradual recovery. If we can beat inflation...
30th Jun 24, 7:00am
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David Hargreaves says it looks too late to 'save' this year, but if we can beat inflation, then the RBNZ will call off the dogs and the prospects for next year will be for a gradual recovery. If we can beat inflation...
Latest RBNZ figures show NZ's housing lending stock increased by over $1.3 billion in May, while the annual growth rate was the highest for over a year
29th Jun 24, 6:31am
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Latest RBNZ figures show NZ's housing lending stock increased by over $1.3 billion in May, while the annual growth rate was the highest for over a year
ANZ economists are optimistic the Reserve Bank will be in a position to cut the Official Cash Rate 'considerably earlier' than August next year as the RBNZ currently expects
27th Jun 24, 1:28pm
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ANZ economists are optimistic the Reserve Bank will be in a position to cut the Official Cash Rate 'considerably earlier' than August next year as the RBNZ currently expects
ASB economists expect 'a considerably more modest inflation impact in NZ' than during the pandemic spike in shipping costs, but say the latest rise 'will further crimp NZ and global household demand'
26th Jun 24, 11:49am
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ASB economists expect 'a considerably more modest inflation impact in NZ' than during the pandemic spike in shipping costs, but say the latest rise 'will further crimp NZ and global household demand'
Latest monthly figures from the Reserve Bank reveal our central bank has seen a decrease in its 'foreign currency intervention capacity' of NZ$732 million last month - the first drop in a year
25th Jun 24, 3:52pm
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Latest monthly figures from the Reserve Bank reveal our central bank has seen a decrease in its 'foreign currency intervention capacity' of NZ$732 million last month - the first drop in a year
Westpac McDermott Miller Employment Confidence Survey shows a marked fall in the latest three months
25th Jun 24, 10:23am
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Westpac McDermott Miller Employment Confidence Survey shows a marked fall in the latest three months
David Hargreaves sums up the first (nearly) six months of the year and thinks it would be a very good idea to stop it and start again. Unfortunately though, we will have to carry on. Here's what's transpired so far...
23rd Jun 24, 7:00am
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David Hargreaves sums up the first (nearly) six months of the year and thinks it would be a very good idea to stop it and start again. Unfortunately though, we will have to carry on. Here's what's transpired so far...
[updated]
RBNZ chief economist Paul Conway says the country is in a 'slow-to-no-to-negative' growth environment, but the outlook is slightly more positive for the future and the outlook is also for continued declines in inflation
19th Jun 24, 9:49am
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RBNZ chief economist Paul Conway says the country is in a 'slow-to-no-to-negative' growth environment, but the outlook is slightly more positive for the future and the outlook is also for continued declines in inflation
Long-running survey records the worst ever non-Covid-affected level of activity for the services sector; 'This tells of a services sector in reverse at pace'
17th Jun 24, 12:11pm
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Long-running survey records the worst ever non-Covid-affected level of activity for the services sector; 'This tells of a services sector in reverse at pace'
It's a line ball call whether GDP figures out in the coming week will reveal the country still to be in recession or not. But whatever the outcome, economists don't see a particularly rosy path for the economy in the immediate future
16th Jun 24, 6:30am
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It's a line ball call whether GDP figures out in the coming week will reveal the country still to be in recession or not. But whatever the outcome, economists don't see a particularly rosy path for the economy in the immediate future
It's official: The wallets are being slammed shut. Electronic card transactions data from Statistics NZ shows that retail sales figures - which are not adjusted for inflation - are below the levels of a year ago
13th Jun 24, 11:53am
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It's official: The wallets are being slammed shut. Electronic card transactions data from Statistics NZ shows that retail sales figures - which are not adjusted for inflation - are below the levels of a year ago
Latest spending data from the country's biggest bank highlights the extent to which Kiwis have put their wallets away as rising costs and higher interest rates have taken their toll
11th Jun 24, 11:36am
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Latest spending data from the country's biggest bank highlights the extent to which Kiwis have put their wallets away as rising costs and higher interest rates have taken their toll
SkyCity Entertainment Group says in order to preserve 'headroom' with its financing covenants it has suspended dividend payments for both the 2024 and 2025 financial years; earnings guidance for current year downgraded; share price tumbles
6th Jun 24, 10:26am
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SkyCity Entertainment Group says in order to preserve 'headroom' with its financing covenants it has suspended dividend payments for both the 2024 and 2025 financial years; earnings guidance for current year downgraded; share price tumbles
Latest Reserve Bank figures show nearly three-quarters of the new mortgage money taken up by owner-occupiers in April was for at rates fixed for a year or less
5th Jun 24, 3:46pm
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Latest Reserve Bank figures show nearly three-quarters of the new mortgage money taken up by owner-occupiers in April was for at rates fixed for a year or less
Crown finances for the first 10 months of the year are some $1.7 billion better than was forecast in last week's Budget due to higher than expected tax revenue
5th Jun 24, 11:14am
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Crown finances for the first 10 months of the year are some $1.7 billion better than was forecast in last week's Budget due to higher than expected tax revenue
Latest RBNZ figures show non-performing housing loans increased $136 million in April to over $1.9 billion and are up 72% in the past 12 months
4th Jun 24, 2:54pm
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Latest RBNZ figures show non-performing housing loans increased $136 million in April to over $1.9 billion and are up 72% in the past 12 months
Fletcher Building extends some of its loan terms and negotiates a higher debt ceiling - should this be necessary
4th Jun 24, 9:44am
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Fletcher Building extends some of its loan terms and negotiates a higher debt ceiling - should this be necessary
The Reserve Bank could have a fairly lengthy selling job to build public understanding of and trust in its proposed central bank digital currency
30th May 24, 5:00am
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The Reserve Bank could have a fairly lengthy selling job to build public understanding of and trust in its proposed central bank digital currency
ANZ economists say their latest Business Outlook Survey 'makes for grim reading' but is encouraging for the Reserve Bank in its inflation battle
29th May 24, 1:23pm
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ANZ economists say their latest Business Outlook Survey 'makes for grim reading' but is encouraging for the Reserve Bank in its inflation battle
Fonterra's picking a slightly higher milk price for the coming season, while increasing its earnings forecast for the current financial year; says 'high volume of interest' in potential sale of consumer brands
29th May 24, 9:12am
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Fonterra's picking a slightly higher milk price for the coming season, while increasing its earnings forecast for the current financial year; says 'high volume of interest' in potential sale of consumer brands
Latest Reserve Bank mortgage figures show while housing investors are not exactly piling back into the market, they are at least starting to sit up and pay attention
28th May 24, 4:07pm
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Latest Reserve Bank mortgage figures show while housing investors are not exactly piling back into the market, they are at least starting to sit up and pay attention
Reserve Bank says banks will have to comply with the new DTI rules from July 1, while loan to value ratio restriction easing will also be applied from the same date
28th May 24, 10:58am
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Reserve Bank says banks will have to comply with the new DTI rules from July 1, while loan to value ratio restriction easing will also be applied from the same date
[updated]
Stats NZ figures show that seasonally adjusted retail sales by volume increased by 0.5% in the March quarter, but the figures were down 2.4% on the volumes recorded for the same quarter in 2023
23rd May 24, 12:16pm
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Stats NZ figures show that seasonally adjusted retail sales by volume increased by 0.5% in the March quarter, but the figures were down 2.4% on the volumes recorded for the same quarter in 2023
BNZ economists now expect house prices to rise just 2% in 2024, down from an earlier forecast of 5% and say even the latest lower forecast has 'downside risk'
23rd May 24, 11:16am
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BNZ economists now expect house prices to rise just 2% in 2024, down from an earlier forecast of 5% and say even the latest lower forecast has 'downside risk'
[updated]
RBNZ leaves Official Cash Rate at 5.5%, but says domestic inflation is slow to fall and now puts a 60% chance of a further OCR hike by the end of this year; now doesn't see inflation getting back under 3% till the fourth quarter of the year
22nd May 24, 2:20pm
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RBNZ leaves Official Cash Rate at 5.5%, but says domestic inflation is slow to fall and now puts a 60% chance of a further OCR hike by the end of this year; now doesn't see inflation getting back under 3% till the fourth quarter of the year