12/07/2023
Wednesday, 12th of June 2023 News:
RBNZ has held the official cash rate steady at 5.5%. Implying the hiking cycle is over. Reductions in interest rates are likely to happen later in the year. This offers reprieve to property investors who have been dogged by high interest rates.
Labour Prime Minister Chris Hipkins has ruled out a capital gains and wealth tax. It's reported that they considered it implementing them in the 2023 Budget. This clarifies Labour's position which has been uncertain since the resignation of Jacinda Ardern, who ruled out a capital gains tax under her tenure.
