Weekly Digest – 28 February 2024

Weekly Digest – 28 February 2024

Welcome to our Weekly Digest – stay in the know with recent news updates relevant to business and the economy.

What you need to know about likely mortgage rule changes

New Zealand’s central bank is expected to tighten mortgage lending rules due to rising house prices and increased borrowing. The bank may reintroduce loan-to-value ratio (LVR) restrictions, which were removed in 2020. The move aims to curb excessive lending and mitigate potential risks to the financial system.

32 actions to build a better business in 2024

Improve your business in 2024 with these tips. Experts suggest 32 actions including planning for the future, embracing technology, investing in employee training, and focusing on customer service. Additionally, reducing waste, adopting sustainable practices, and developing a strong brand are also recommended. These steps aim to help businesses thrive in a competitive market.

Work still to do on inflation

Reserve Bank Governor Adrian Orr believes there’s still work to be done on inflation in New Zealand. Despite the Official Cash Rate (OCR) remaining at 0.25%, Orr insists that the bank is not yet done with its efforts to stimulate inflation and economic recovery from the COVID-19 pandemic.

Record migration in 2023: Four ways it changed the economy

New Zealand experienced a record migration boom in 2023, significantly impacting the economy in four ways including housing, demand, jobs and infrastructure.

Survey Highlights The Biggest Risks Facing NZ Businesses

A survey by Marsh reveals that cyber and data security risks top the list of concerns for New Zealand businesses in 2024. The study also highlights concerns over business interruption and supply chain risks. The report suggests businesses need to adapt and manage these risks to ensure their long-term survival.

Air NZ reports $129 million first-half profit, down 39%

Air New Zealand has reported a first-half profit of $129 million, down 39% from the same period last year. The company attributes the decline to the impact of the COVID-19 pandemic on international travel. Despite the drop, the company remains optimistic about future domestic travel recovery.

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