Weekly Digest – 26 July 2023

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

Explaining rising interest rates

At the moment there is confusion about how banks have raised their fixed mortgage rates recently despite the Reserve Bank stating in May that it didn’t feel rates needed to go any higher. Independent economist Tony Alexander on how the banks fix mortgage rates.

Fonterra offers dairy farmers help to meet a new emissions intensity target

Fonterra is announcing a new “credible” target to reduce supply chain emissions, after executives criss-crossed rural New Zealand with a roadshow to win the support from farmers.

Minimum pricing practice hurts Kiwi consumers and retailers

The Commerce Commission is reminding grocery suppliers that requiring retailers to charge above minimum prices for their goods can breach the Commerce Act.

Luxury New Zealand Mānuka Honey makes world history – again!

The True Honey Co. has toppled its own record, harvesting a mānuka honey that has achieved the highest grade ever documented.

Government helps to unlock the doors of St James Theatre

The Government has committed to doing its part to support the restoration and revival of Tāmaki Makaurau Auckland’s much loved, nationally significant, and historic St James Theatre, Minister for Arts, Culture and Heritage Carmel Sepuloni announced.

Here’s where biggest rent price rises might be

The pace of rent increases has picked up and that is likely to continue, particularly in places where supply is stretched, BNZ chief economist Mike Jones says.

Dairy exports help right balance of trade

A $1.1 billion drop in imported goods and 1.3% improvement in exports by value of $1.6bn saw the monthly trade balance move into a surplus of $8.8 million for June, according to Statistics New Zealand. Exports of $6.3bn were led by a $170m increase in the value of milk powder, butter and cheese to $1.8bn.

Scientific breakthrough harnesses mRNA technology to develop powerful Malaria vaccine

Trans-Tasman research collaborators have developed an mRNA-based vaccine that can effectively target and stimulate protective immune cell responses against the malaria-causing parasite Plasmodium in preclinical models.

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