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12 Aug 2022 8:28
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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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     Top Stories

    RUGBY RUGBY
    Richie Mo'unga is at first-five for the All Blacks as part of four changes for the test against the Springboks at Johannesburg's Ellis Park on Sunday morning More...


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



     Today's News

    Rugby League:
    Warriors captain Tohu Harris is adamant being home will lead to an improved performance in tonight's NRL match against the Bulldogs 8:19

    Rugby:
    Richie Mo'unga is at first-five for the All Blacks as part of four changes for the test against the Springboks at Johannesburg's Ellis Park on Sunday morning 8:19

    Accident and Emergency:
    A recommendation to install webcams at alpine flight landing spots - after a review of a deadly helicopter crash in Fox Glacier 8:09

    Politics:
    Expect a political fall-out, from a Labour MP's allegations of rampant bullying in Parliament 8:09

    Basketball:
    Auckland have stunned top-seeded Taranaki to advance to the National Basketball League final 7:59

    International:
    Youth suicide report urges reform to emergency department care for young people in distress 7:59

    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

    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

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


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