News

The latest US economic growth (GDP) figures showed that in the 4th quarter of 2018 there was a notable 0.4% downward revision of growth from 2.6% to 2.2%

The Reserve Bank of New Zealand kept the official cash rate on hold at 1.75 percent but changed its language to say it now expects to cut rates.

Global markets were higher overnight, with Wall Street’s main indexes rising as Apple and chipmakers boosted technology shares, while higher oil prices lifted energy companies.

Apple is attempting to reintroduce itself as an entertainment and financial services company that also makes iPhones as it launched a streaming television service, a credit card and an online gaming arcade.

Traders remain on edge after Friday’s rout which was driven by renewed worries of a slowdown in global economic growth.

Global markets sold off sharply on Friday, as investors dumped shares on Wall Street (which experienced the worst trading day since the 3rd of Jan) as weak factory data from the United States and Europe led to an inversion of US Treasury yields, fuelling

NZ economic growth (GDP) data released yesterday showed the economy grew less than the central bank expected in the fourth quarter but economists don’t expect the data to spur any change in the Reserve Bank’s message at next week’s policy review.

The Fed this morning sent a dovish message to the market which it wanted, as the accompanying economic projections signalled policymakers don’t expect to lift rates again this year.

The path for the RBA is not clear cut, and economists have noted the strong tension between employment and economic growth in the minutes from the March meeting.