RBNZ Governor Hawkesby Says July Rate Cut ‘Is Not a Done Deal'
New Zealand's central bank could hold the Official Cash Rate steady at its next policy decision in July, Governor Christian Hawkesby said.
'The main message we were looking to get to markets was that, when we next meet in July a further cut in the OCR is not a done deal, it's not something that's programmed in,' Hawkesby told Bloomberg Television Thursday in Wellington. 'We're really more in a phase where we are taking considered steps, data dependent. The markets need to follow developments really closely to get a feel for what it means for us.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
19 minutes ago
- Bloomberg
Air France-KLM CEO Says Premium Demand Is Holding
Air France-KLM Chief Executive Officer Ben Smith says "premium demand" for the airline "is holding across all of our sectors." Smith speaks to Bloomberg's Guy Johnson from the sidelines of the International Air Transport Association (IATA) annual meeting in New Delhi, India. He also discusses the potential impact of tariffs and trade uncertainty on the airline, as well as merger and acquisition prospects. (Source: Bloomberg)
Yahoo
34 minutes ago
- Yahoo
SI Group Signs Exclusive MOU in Support of Solomon Islands' First Special Economic Zone
HANOI, Vietnam, June 2, 2025 /PRNewswire/ -- SI Group has signed a Memorandum of Understanding (MOU) with the Government of the Solomon Islands to serve as a strategic adviser and priority investor in the development and international promotion of the country's first Special Economic Zone (SEZ). This MOU establishes the foundation for collaboration, with a more detailed investment agreement to be finalized and presented to the Government Caucus for formal approval. Solomon Islands – A Strategic Gateway in the Pacific Situated at the crossroads of Southeast Asia, Australia, and the South Pacific, the Solomon Islands holds a unique position on major maritime trade routes. With ongoing economic reforms and a commitment to inclusive development, the country is positioning itself as a new frontier for global investment and sustainable growth. The Honourable Jaimie Lency VOKIA, Minister of Commerce, Industry, Labour and Immigration and Member of Parliament, stated: "This MOU marks the beginning of a strategic public-private partnership. SI Group's global reach and sector expertise will help attract serious international investors to the SEZ, aligning with our national goals for economic diversification and regional integration." A Government-Led SEZ for National Development The Special Economic Zone, officially launched by the Government of the Solomon Islands, is a flagship initiative aimed at stimulating broad-based economic transformation. Its goals include: Establishing a globally competitive, well-regulated business environment Attracting high-impact investment, advanced technology, and international expertise Generating employment and enabling export-led growth across multiple sectors A Cohesive Structure for Sustainable Growth The SEZ will comprise a series of interconnected sub-zones, each with distinct strategic functions: 1. Marine Economy – Agriculture – Natural Resources A 100-hectare, high-tech shrimp farm targeting premium export markets (e.g., Japan and EU) Fisheries processing hub aligned with global safety and quality standards Environmentally responsible mining operations (gold and bauxite) using ESG-aligned practices 2. Social Services – Education – Tourism An international hospital serving both local and regional communities Vocational training centers customized to SEZ workforce demands A luxury resort, casino, and golf course targeting high-end eco-tourism 3. Infrastructure – Finance – Logistics Financial services platform including a dedicated SEZ bank and investor support systems A strategic logistics hub with cold storage and streamlined cargo processing Integrated infrastructure to deliver reliable energy, water, and telecoms All sub-zones will be developed in accordance with a national master plan to ensure operational coherence and long-term sustainability. Implementation Roadmap: From Vision to Execution SI Group and the Solomon Islands Government have agreed on a structured implementation roadmap to realize the SEZ through phased development: Short-Term (0–6 months) Formalization of the SEZ Investment Agreement and submission to the Government Caucus Establishment of SI Group's office in Honiara Launch of initial pilot projects in healthcare, aquaculture, and logistics Engagement of anchor investors and technical consultants Finalization of the SEZ's legal and regulatory frameworks Long-Term (1–3 years) Full-scale development of SEZ sub-zones across targeted provinces Infrastructure deployment and utility integration Public-private partnerships for job creation and capacity building Significant growth in FDI and economic diversification Establishment of the Solomon Islands as a model for sustainable SEZ development in the Pacific SI Group – Strategic Adviser and Priority Investor Under the terms of the MOU, SI Group will serve as a strategic adviser and priority investor on major investment opportunities within the zone. SI Group's role includes: Advising on SEZ development strategy, structure, and international best practices Promoting the SEZ to global investors and multilateral institutions Facilitating capital mobilization and technical partnerships Supporting legal, financial, and regulatory alignment to attract long-term investment About SI Group Established in 2001 as ESPECO (H.K) Limited and now headquartered in Vietnam, SI Group is a global advisory and investment firm specializing in: Investor migration and post-settlement solutions Government advisory and international business development Infrastructure, real estate, and hospitality investment Strategic partnerships and trade facilitation With active operations in over 20 countries and a proven track record of delivering high-impact projects, SI Group is committed to supporting the Solomon Islands in realizing its SEZ ambitions through sustainable and inclusive development. MEDIA CONTACT Nguyen Huu Tri (Kannie) CMO & Director of Global Business Development – SI Group Email: Phone: +84 904 605 065 Website: View original content to download multimedia: SOURCE SI Group Sign in to access your portfolio
Yahoo
34 minutes ago
- Yahoo
Bloomberg Expands HQLA Solution to Middle East as International Banks Increase Presence in Region
The HQLA solution helps monitor bank liquidity requirements under Basel III and now includes local rules for the United Arab Emirates (UAE) and Qatar NEW YORK, June 2, 2025 /PRNewswire/ -- Bloomberg today announced the release of their High-Quality Liquid Assets (HQLA) solution in the Middle East, expanding a Basel III regulatory data solution to the region and equipping financial institutions to monitor liquidity requirements in accordance with the Central Bank of the United Arab Emirates (UAE) Rulebook and the Qatar Central Bank's prudential regulations. One of the key reforms introduced by Basel III, the Liquidity Coverage Ratio (LCR), requires financial institutions to hold an adequate amount of unencumbered High-Quality Liquid Assets (HQLA) that can be converted easily and immediately into cash. The Basel LCR framework has been transcribed into each jurisdiction's national law in different ways, requiring a bespoke and customized solution for each jurisdiction to help banks identify asset classes eligible for inclusion in the HQLA. "As international banks expand into the Middle East, they are looking to Bloomberg as their trusted regulatory data partner to establish strong compliance processes with the local regulatory regime," said Leila Sadiq, Global Head of Enterprise Data Content at Bloomberg. "With this expansion, Bloomberg brings our robust HQLA data set and best in class reference data to Middle East jurisdictions to help all financial institutions including local banks, hedge funds and private banks in addition to international banks meet local liquidity and regulatory requirements." Bloomberg's HQLA solution now covers 12 jurisdictions and offers a set of data points to assist clients in complying with Basel III's LCR requirements and regulatory reporting. This data, which firms can also use for calculating their standardized credit risk capital requirements, consists of 4 main data sets: HQLA Classification - 33 security-level data points including the level of eligibility for different jurisdictions, Organisation for Economic Co-operation and Development (OECD) classifications and standardized risk weight. 30-day Stress Period Price Drop Metrics - Five data points providing the most recent single largest 30 calendar day price drop over relevant stress periods (under two methodologies). Liquid & Readily Marketable - 19 data points to assist clients in determining if fixed income securities are liquid and readily marketable. Central Bank Eligibility - Three data points to assist in determining if a security is accepted as eligible collateral by 14 major global central banks, together with the corresponding haircut values. HQLA is a high quality dataset available to bank treasurers, traders, regulatory reporting managers, risk officers and investment professionals via the Bloomberg Terminal as well as through an enterprise data feed. It was developed with input from regulators and industry experts in order to assure the precision and accuracy of the classifications provided. The HQLA solution is part of Bloomberg's Regulatory and Accounting Product suite, which helps professionals at banks, asset managers, insurers and other financial organizations navigate an increasingly complex regulatory and accounting disclosure environment. About Bloomberg Bloomberg is a global leader in business and financial information, delivering trusted data, news, and insights that bring transparency, efficiency, and fairness to markets. The company helps connect influential communities across the global financial ecosystem via reliable technology solutions that enable our customers to make more informed decisions and foster better collaboration. For more information, visit or request a demo. View original content to download multimedia: SOURCE Bloomberg Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
