Blog

Central Bank Mysteriously Hacked

Blog
New Zealand’s central bank was victim of a computer hacking attack, but further details remain under investigation. The Reserve Bank of New Zealand, which had stored data on a third-party file-sharing server, stated that sensitive personal and commercial information was accessed by an unknown individual in one of their data…

New Zealand’s Inflation Rate Shows Promising Sign

Blog
New Zealand’s inflation rate is now expected to hit the Central Bank’s target more quickly than was initially thought, signalling a healthier post-pandemic recovery period. The yearly inflation rate held stable during the fourth quarter of last year – a substantially better outcome when compared to the prior estimates of…

NZ Housing Market’s Hot Streak Continues Despite Recession Fears

Blog
Despite the dampening effect the pandemic has had on the global and local economy, the housing sector has managed to thrive. Even with the country likely to dip into another recession in 2021, NZ is experiencing the highest housing boom in 20 years with a record share of properties being…

NZ Anticipates Boost To Economy With UK Bid To Join CPTPP

Blog
Following Brexit, the UK has now opted to pursue new trade alliances, with the Comprehensive and Progressive Agreement of Trans-Pacific Partnership (CPTPP) next on their agenda. The government, led by its Trade Minister, Liz Truss, has begun the process by formally making a request to officials from New Zealand and…

Queenstown Tourism Economy Struggles Amid Lack Of International Visitors

Blog
Queenstown Lakes Mayor, Jim Boult, anticipates that many businesses could end up boarded up by the time international visitors return to the tourism hub. This is supported by a recently released report by the Treasury that indicates that Otago and Southland will be amongst the hardest hit regions by the…

Pyramid Schemes Rising as Bitcoin Values Peak

Blog
The end of 2020 saw Bitcoin hitting a new peak of US$29,000, after nearly quadrupling in value over the past 12 months. Heavy interest by investors and traders continues, due in large part to the cryptocurrency’s ability to deliver quick financial returns as well as its potential to become a…

NZ Economy Showing Signs of Improvement

Blog
New Zealand’s economy is expected to improve amidst the pandemic, although increased debt and hefty deficits will pose a challenge moving forward. Grant Robertson stated that the government’s swift reaction to mitigate the spread of COVID-19 was a significant factor in aiding the economic recovery, despite ongoing obstacles. According to…

NZ Investment Scams On the Rise

Blog
The Financial Markets Authority (FMA) published a report regarding an increase in scams towards investors in the country. Most of the scammers target consumers, while pretending to be respectable businesses operating in New Zealand. With COVID-19 triggering a boom for online business and e-commerce activities online, scammers have treated the…

New Tourism Solutions Needed to Boost NZ’s Economy

Blog
Every little bit helps. Such is the thinking behind a variety of steps currently being considered or implemented, to try to get New Zealand’s struggling tourism industry back on its feet. The idea of incentivising domestic tourism, opening travel bubbles between New Zealand and other ‘safe’ countries, and tasking the…