Economy

Greece ups stakes in quest for EU help

Reuters

Greece has raised the stakes in its quest for EU help to tackle its debt crisis, saying it cannot achieve promised deficit cuts if its borrowing costs remain so high and may have to call in the IMF.

RBNZ could hold off on rate rise

By PETER KERR BusinessWire

The Reserve Bank of New Zealand may be able to hold back from a predicted mid-year official cash rate increase due to the sluggish economy, tame inflation, the impact of bank liquidity requirements and expected tax changes.

British public debt soars

AP

Public sector debt in the United Kingdom climbed above 60 per cent of GDP in February as government agencies borrowed another 12.4 billion pounds ($NZ26.4 billion), the Office for National Statistics said.

Comparing NZ with Australia 'misleading'

NZPA

New Zealand's economy has been dynamic in the last decade and comparisons with Australia are misleading, according to Mastercard Worldwide economic adviser Yuwa Hedrick-Wing.

Australian economy 'enviable'

AAP

Australia is positioned enviably in the global economy but growing ties to China also expose it to risks, a US-based economist says.

British jobless rate falls unexpectedly

Reuters

The number of Britons claiming unemployment benefits fell unexpectedly last month and by the biggest amount since November 1997, official data showed overnight.

Australia facing house affordability 'time bomb'

By CHRIS ZAPPONE BusinessDay.com.au

Australia faces a housing affordability "time bomb"- primed by a dysfunctional planning system, a chronic undersupply of homes, and unrealistic expectations from buyers, according to the chief of one of the nation's largest homebuilders.

US housing market slumps

Reuters

US housing starts fell last month as winter storms disrupted construction, and another drop in building permits suggested the weakness would linger.

Consumers lose confidence in recovery

By JAMES WEIR BusinessDay.co.nz

Rising petrol prices, higher mortgage rates, falling house prices and worsening unemployment are knocking back consumer confidence.

US Fed Reserve vows to keep rates low

AP

The Federal Reserve renewed its pledge on Tuesday to keep interest rates near zero for an "extended period" even as it sounded more upbeat about jobs.