Latest news with #ReserveBankBoard
ABC News
7 days ago
- Business
- ABC News
Markets live updates: Reserve Bank expected to cut interest rates for third time in 2025
Markets are pricing in a more than 90 per cent chance of a 0.25 basis point interest rate cut when the Reserve Bank board hands down its decision at 2:30pm AEST today. Follow the day's financial news and insights from our specialist business reporters on our live blog. Disclaimer: this blog is not intended as investment advice.
Yahoo
28-03-2025
- Business
- Yahoo
RBNZ Board Yet to Recommend Temporary Governor to Minister
(Bloomberg) -- New Zealand Finance Minister Nicola Willis has yet to receive a recommendation from the Reserve Bank Board on a temporary governor to replace Adrian Orr, her office said. They Built a Secret Apartment in a Mall. Now the Mall Is Dying. Why Did the Government Declare War on My Adorable Tiny Truck? How SUVs Are Making Traffic Worse Trump Slashed International Aid. Geneva Is Feeling the Impact. These US Bridges Face High Risk of Catastrophic Ship Strikes 'The Minister looks forward to receiving the Reserve Bank Board's recommendation for the appointment of temporary governor,' her spokesman said Thursday in Wellington in response to questions about the likely timing of an announcement. 'A decision on the appointment will be made as soon as practicable following this, and not before 1 April.' After Orr's surprise resignation on March 5, both Willis and the RBNZ said his deputy Christian Hawkesby would be acting governor until March 31, suggesting a decision on a temporary governor would be announced around that time. The Reserve Bank Act states the board must make a recommendation within 28 days of the office of the governor becoming vacant, but Orr's employment at the bank doesn't officially end until March 31. He has been on leave since announcing his resignation. RBNZ Board Chairman Neil Quigley hasn't yet replied to Bloomberg's questions about when he expects the recommendation to be made. Once appointed, the temporary governor will occupy the position for six months, or longer if needed, until a permanent replacement is found. Business Schools Are Back Google Is Searching for an Answer to ChatGPT A New 'China Shock' Is Destroying Jobs Around the World The Richest Americans Kept the Economy Booming. What Happens When They Stop Spending? How TD Became America's Most Convenient Bank for Money Launderers ©2025 Bloomberg L.P.
