Business news you need to know

Building consent data is due out on Friday. Photo / NZME
Building consent data is due out on Friday. Photo / NZME

What's about to make news in business and finance?

The short week ahead is shaping up to be an extremely busy one, with a number of events, data due out and meetings being held.

• The most important could well be Thursday's review of the official cash rate, with all eyes on the Reserve Bank. OCR announcements are made to financial markets after 9am and then immediately to the news media, and via twitter, the website and email.

The question being asked here is what is the lesser of two evils: the housing bubble or low inflation? That is seen to be the central dilemma facing the Reserve Bank as it juggles mounting pressure to deal with these conflicting economic forces.

• This afternoon, PM John Key is due to hold his regular media conference and that could result in some news on a land tax for foreign-based buyers.

• Tomorrow, the March merchandise trade figures are due from Statistics NZ and on Friday, the latest building consents could show the construction sector continuing to romp ahead, particularly on residential the construction front.

At 27,745 new homes consented in the year to February, that was the highest in a decade. What will the March figure be?

• Also at the end of this month, Land Information NZ will release the latest information from the Overseas Investment Office, issuing a series of fact sheets which show the outcome of applications for deals involving $100 million-plus of assets and those involving 'sensitive' property, particularly historic, that fronting water or large rural lots.

• Retirement giant Summerset Group will hold its annual meeting in Wellington on Friday. That NZX listed business is undergoing a massive expansion strategy in Auckland where it is building at Hobsonville, Ellerslie/Mt Wellington and Parnell.

• OceanaGold is due to release first quarter earnings this week. That business controls and operates mines in our three largest goldfields: the Macraes operation in Otago, the Reefton operation on the west coast and in the North Island, the Waihi gold operation.

• Seeka Kiwifruit Industries is due to hold its annual meeting this week.

- NZ Herald

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