New Zealand increases official cash rate to 5.25 pct

STORY: New Zealand increases official cash rate to 5.25 pct DATELINE: April 6, 2023 LENGTH: 00:02:10 LOCATION: Wellington CATEGORY: ECONOMY SHOTLIST: 1. various of banks and cash machines 2. various of supermarkets 3. various of street view and gas station STORYLINE: The Reserve Bank of New Zealand (RBNZ) on Wednesday increased its Official Cash Rate (OCR) by 50 basis points, from 4.75 percent to 5.25 percent, its highest level since late 2008. The central bank's Monetary Policy Committee agreed the OCR needs to increase, as previously indicated, to return inflation to the 1-3 percent target range over the medium term. "Inflation is still too high and persistent, and employment is beyond its maximum sustainable level," said a committee statement. The level of economic activity over the December quarter was lower than anticipated and there are emerging signs of capacity pressures in the economy easing, it said, adding demand continues to significantly outpace the economy's supply capacity, thereby mainta

China's economy to grow more rapidly in 2023: British expert

STORY: China's economy to grow more rapidly in 2023: British expert DATELINE: Dec. 27, 2022 LENGTH: 00:03:10 LOCATION: Beijing CATEGORY: ECONOMY SHOTLIST: 1. various of street views 2. SOUNDBITE 1 (English): JOHN ROSS, Former director of Economic and Business Policy of London 3. various of China's economic development 4. SOUNDBITE 2 (English): JOHN ROSS, Former director of Economic and Business Policy of London 5. various of China's green development 6. SOUNDBITE 3 (English): JOHN ROSS, Former director of Economic and Business Policy of London STORYLINE: The Chinese government has rolled out a string of modified measures based on the evolving pandemic situation and Beijing's drive to better align anti-COVID efforts with economic and social development. China has shifted the focus of its COVID-19 response strategy from infection control to case treatment to prevent severe cases. The shift was made following the weakened pathogenicity of the virus. A British analyst said that the Chinese economy has mainta