Stories by Gyles Beckford
News
Bank profits take biggest hit in a decade
The profits of the country's banks have fallen by more than a quarter over the past year amid the Covid-19 pandemic, a fall in margins because of low interest rates and higher costs.
Electricity consumers paid $70m more than needed last December - regulator
A multi-million dollar settlement is looming among power companies after the sector regulator confirmed consumers paid $70 million more than they needed to a year ago.
GDP figures show economy rebounds from recession
The New Zealand economy grew a record 14 percent in the three months ended September driven by surging consumer spending.
Can Reserve Bank dampen an inflamed housing market?
Analysis - The government is asking the Reserve Bank (RBNZ) to change from arsonist to firefighter in the housing market, RNZ Business Editor Gyles Beckford writes.
Funding for Lending: RBNZ set to expand its arsenal
The Reserve Bank is set to unveil its latest weapon in the fight for cheap money and economic recovery from the pandemic.
Reserve Bank considers lowering cost of borrowing
The Reserve Bank says any further easy money policy measures will have the simple aim of lowering the cost of borrowing and ensuring banks can back investment by businesses and spending by households.
Reserve Bank keeps OCR at 0.25%
The Reserve Bank has left its benchmark interest rate unchanged at a record low 0.25 percent, and signalled it's ready to take further action probably before the end of the year.
Government books show medium to long-term pain
Analysis - It says everything that the pre-election economic and fiscal update's most positive statement was "less negative in the near term," writes RNZ Business editor Gyles Beckford.
Awful economic numbers already 'ancient history'
Gross domestic product figures for the second quarter of the year are set to show the biggest economic contraction on record.
Air NZ posts an after tax loss of $454 million
Air New Zealand has posted one of the biggest corporate losses in recent memory as Covid-19 has all but grounded the airline in recent months.
Reserve Bank keeps official cash rate steady, expands bond buying by $40bn
The Reserve Bank has left the benchmark interest rate unchanged at a record low but significantly increased the size of its bond buying programme.
Gold's safe haven allure polishes price to nine year high
In the past day gold has peaked at $US1843 an ounce - the highest since September 2011.
OCR held at 0.25 percent
The Reserve Bank has held its benchmark interest rate at 0.25 percent, in line with expectations.
GDP figures down 1.6 percent in March quarter
New Zealand's gross domestic product fell by 1.6 percent in the first three months of the year as it felt the first hit from the Covid-19 pandemic.
GDP figures to be released: 'The recession is just beginning'
The economy's golden run of nine years of uninterrupted growth is set to come to a shuddering halt with the release of first quarter GDP numbers.
RBNZ not expanding quantitative easing programme any time soon
The Reserve Bank governor says it is too early to say whether the central bank will have to significantly expand its bond buying programme to cope with extra government debt.
Government's debt mountain to fund early recovery
The economy is expected to have a relatively solid and early bounce back from the Covid-19 pandemic but it will come largely as a result of debt-funded government spending.
What to expect from the 2020 Budget
The Finance Minister will unveil a Budget today that will set this country's economic course for years, if not decades, to come.
Reserve Bank expected to announce increase in bond buying
The Reserve Bank is expected to announce a large expansion of its bond buying programme but hold its interest rate steady in its latest monetary policy statement this afternoon.
GDP grew 0.5 percent in final quarter of 2019
The economy managed modest growth in the final quarter of 2019, driven by service sector and mining activity, as a sharp recession looms because of the Covid-19 virus.
Weaker cash flow will pressure banks - Fitch
New Zealand banks are in good shape to cope with the Covid-19 crisis and short-term volatilities, but pressures will increase the longer the pandemic continues, according to ratings agency Fitch.
Reserve Bank announces emergency official cash rate cut
The Reserve Bank has cut its official cash rate to a record low of 0.25 percent. Video, Audio
Telcos gearing up for 5G spectrum auction in 2020
Ultra-fast mobile telecommunications networks are coming sooner than expected after the government's decision to make unused radio spectrum available for a short term. Audio
RBNZ orders retail banks to hold $20 billion in capital
The Reserve Bank has made few concessions in making the country's banks hold more capital to strengthen their finances for any future crisis.
Decision-Day for bank finance rules
The biggest shake-up for the country's banking system in more than a decade looms on Thursday, writes RNZ business editor Gyles Beckford.