Thousands to benefit from FamilyBoost changes
The Finance Minister says several thousand more families will benefit from the changes to FamilyBoost. Nicola Willis spoke to Ingrid Hipkiss.
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RNZ News
12 minutes ago
- RNZ News
Nearly 300 visa applications from Israelis, Palestinians and Iranians in past month
Photo: RNZ Immigration New Zealand has received nearly 300 offshore visa applications from Israeli, Palestinian and Iranian nationals since 1 June 2025. It follows the most recent armed conflict between Israel and Iran, which started on 13 June when Israel launched an air attack on Iranian nuclear facilities and killed top military commanders. In a statement to RNZ, Immigration New Zealand (INZ) said the government agency "understands the difficult situation this crisis is causing for many and has great sympathy for those separated from their loved ones during this stressful time". INZ acting director visa Marcelle Foley said 277 offshore visa applications from Israelis , Palestinians and Iranians had been made across all visa categories since the start of last month. The vast majority were Iranian nationals. "230 visa applications were submitted from Iranian nationals," Foley said. "Of those, 93 have been approved and seven declined. The remaining applications are either still under assessment or have been withdrawn. "Forty-one applications were submitted by Israeli nationals. Twenty-four have been approved, one was declined, and the remainder are still being processed. "Six applications were submitted from Palestinian nationals, with two approved and the rest currently under assessment." INZ also revealed that since 7 October 2023, a total of 8634 New Zealand Electronic Travel Authority (NZeTA) applications have been granted to Israeli nationals. "Israel is a visa waiver country. This means Israeli citizens visiting New Zealand temporarily do not need to apply for a visitor visa but must obtain a New Zealand Electronic Travel Authority (NZeTA)," said Marcelle Foley, Acting Director Visa. Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
RNZ News
40 minutes ago
- RNZ News
Will there be another cut in the OCR this week?
The Reserve Bank has been in an aggressive rate cutting mood since last August. Photo: RNZ To cut or not to cut? That is the question confronting the Reserve Bank's monetary policy committee this week. Economists and financial markets believe the committee will pause after six rate consecutive reductions since August last year. The Reserve Bank (RBNZ) has been in an aggressive rate cutting mood since it started last August, reducing the official cash rate (OCR) by 225 basis points from 5.5 percent to the current 3.25 percent, including three 50 basis point cuts. But times have changed, which the RBNZ showed in May with a rare vote in the committee resulting in a smaller cut, much emphasis on uncertainty - mentioned 164 times - and a declaration data would dictate the outlook. "It will be hard for the RBNZ to cut at this meeting given that post the MPS (May statement) it suggested market pricing would be a key driver of its decision," BNZ head of research Stephen Toplis said. "In some ways the RBNZ is in a comfortable spot. The market is not looking for a cut in July but still thinks another rate reduction is a done deal with the chance of more. The RBNZ thus will feel no need to rock the boat." Financial markets give less than a 20 percent chance of a rate cut this week, and about a 60 percent chance of a cut in late August. The RBNZ has maintained that core inflation has been falling towards its cherished 2 percent target point, despite a spike in food and other prices last month . But ASB economists changed their view recently from a 25 basis point cut to no change, because inflation pressures looked to be strengthening. "The RBNZ will need to be confident that higher short-term inflation does not risk stoking inflation expectations - this proved extremely difficult for the Bank to re-anchor in the previous cycle." ANZ chief economist Sharon Zollner was another saying the decision would be a close run thing for the RBNZ, but reluctantly expecting a no-change. "We think the RBNZ should cut. However, on balance we think the committee will decide it is prudent and low-cost to wait for more data on inflation - and inflation expectations - before cutting in August." If no cut this week, then when, and how many more? Opinion is divided, with Zollner expecting three more reductions to a low of 2.5 percent by early next year, as the inflation risk does not materialise and the economy stutters. "We see both consumption and non-tradable inflation undershooting RBNZ forecasts over the second half of the year, and therefore have a follow-up cut in November after another pause in October," adding that a third cut was possible early next year to combat any global headwinds. Kiwibank economists have been enthusiastic supporters of rate cuts to support the struggling economy. "Monetary policy is set today to influence the medium-term. And risks to the medium-term outlook are skewed to the downside." If there is a prevailing view, then presently it is the OCR will be taken to 2.75 or 3 percent, but that, like most things economic, is highly conditional. Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
RNZ News
an hour ago
- RNZ News
Watch: Acting Prime Minister David Seymour on changes to anti-money laundering act
The acting prime minister and associate minister of justice are holding a press conference at the Beehive this afternoon. David Seymour and Nicole McKee are expected to make an announcment on the government's anti-money laundering policy. Seymour will also be available for questions on other topics, as the first day of hearings into his Regulatory Standards Bill begins . Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
