Employer Bulletin | 14 July
The Government’s responsible fiscal management has supported the Reserve Bank to keep the Official Cash Rate low, Finance Minister Nicola Willis says.
The Reserve Bank of New Zealand announced it would keep the Official Cash Rate (OCR) at 3.25% while continuing to foreshadow further reductions in the OCR.
“There has been a 2.25 percentage point reduction in the Official Cash Rate since August last year – easing the cost of borrowing and delivering much needed cost of living relief for many New Zealand households,” Nicola Willis says.
“While many Kiwis are already experiencing lower mortgage repayments off the back of previous OCR reductions, more will benefit when they re-fix their mortgage this year, meaning the positive effects of previous rate drops will continue to flow-through our economy over the coming months.
“Lower interest rates free-up household budgets for spending elsewhere and they ease the path for those wishing to enter the housing market. They also provide relief to interest-rate sensitive sectors of the economy, including building and construction, with lower interest rates often providing a kick-start for big new projects.”
In today’s Bulletin:
- Court upholds Authority ruling on interim reinstatement order
- Restructure proposal was not pre-determined
- Business partners found to not have employment relationship
- Employer ordered to pay money owed to employee
- Six news updates of interest for employers including: OCR steady as she goes; Government AI Strategy to boost productivity; Tatauranga umanga Māori – Statistics on Māori businesses: March 2025 quarter; Consultation begins on the future of Smart EV charging; Strengthening trespass laws for businesses, and Targeting criminals, not Kiwi businesses.
- Four bills open for submission
If you have any questions, about this case or other employment relation matters, call the Advice Line team on 0800 800 362.
