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12 Aug 2022 8:06
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  •   Home > News > Business

    A warning of tough times ahead for our economy

    A warning of tough times ahead for our economy


    Business confidence is back down to March 2020 levels, with 62 percent of businesses expecting economic conditions to deteriorate

    ASB Senior Economist Mark Smith says we could start to see stagflation-like conditions.

    That means falling economic activity, rising inflation and increasing unemployment.

    Smith says the Reserve Bank will probably react by increasing the official cash rate.

    He says we will probably see a 50 basis point hike next week, and he thinks it will peak at 3.5 percent by the end of the year.

    © 2022 Newstalk ZB, NZCity

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    Four changes to the All Blacks' run-on side for Sunday morning's Rugby Championship test against the Springboks at Johannesburg's Ellis Park More...


    BUSINESS BUSINESS
    A major change to social attitudes may be needed, to stem the current spate of youth crime More...



     Today's News

    Entertainment:
    Simon Cowell always knew there was "something special" about Harry Styles 7:50

    Business:
    A major change to social attitudes may be needed, to stem the current spate of youth crime 7:49

    Politics:
    A Labour MP's claims of rampant bullying in Parliament could be a sign of broader frustration from the party's backbench MPs 7:39

    Rugby League:
    Warriors captain Tohu Harris is adamant being home will lead to an improved performance in tonight's NRL match against the Bulldogs 7:39

    International:
    Why does China want Taiwan when it's already so big and rich? The answer is about more than land and money 7:29

    Rugby:
    Four changes to the All Blacks' run-on side for Sunday morning's Rugby Championship test against the Springboks at Johannesburg's Ellis Park 7:29

    Entertainment:
    Travis Scott made a record-breaking amount of money on merchandise at The O2 in London over the weekend 7:20

    Living & Travel:
    New Zealanders are being urged to know their rights when it comes to air travel 7:19

    Business:
    Why Beijing is banning imports of a popular brand of Taiwanese corn chips but not their microchips 7:09

    Entertainment:
    Shawn Mendes has been "doing therapy" and hanging out with his loved ones 6:50


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