Story perspectives
New Zealand Pushes for OCR Cuts Amid Rising Unemployment
10/3/2025
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Story summary
- The New Zealand government seeks OCR cuts to boost spending and jobs before elections.
- The Reserve Bank of New Zealand (RBNZ) keeps the official cash rate at 3%.
- Unemployment rose from 3.9% to 5.2% since the 2023 election, and construction shed 16,000 jobs and 1,100 companies.
- Delays to the $3 billion of shovel-ready projects from 2020 are hindering economic recovery.
