Weekly Digest – 18 January 2023

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.

World Bank warns that global recession is a looming threat

The World Bank has warned that the global economy will come “perilously close” to a recession this year. It has slashed its forecast for global growth by nearly half.

Tight home lending restrictions expected to continue for 2023

CoreLogic NZ chief property economist Kelvin Davidson says that the Reserve Bank is expected to keep tight bank home lending restrictions this year due to relentless inflation.

Bonds are a great investment choice

BusinessDesk and the NZ Herald’s Cooking the Books podcast explains why bonds are an attractive investment in today’s economic climate.

Man scammed out of thousands after sharing password

A BNZ customer says banks should be doing more to protect people after he lost over $40,000 to scammers.

House construction costs expected to remain high in the short term

Annual inflation for construction costs is expected to hold at around 10 percent for the first quarter of this year and then ease after that. However, falling values might change that.

Cost of living will likely continue to bite through 2023

An economist says there won’t be any cost of living respite for New Zealanders this year, as multiple factors could result in more pain at the checkout. Produce supplier costs increased by 24 percent last month, with several factors resulting in reduced supply and higher prices.

Wet weather dampens summer tourism hopes

After more than two difficult years, the tourism industry’s post-Covid return has been spoiled by poor weather in parts of the country.

Your guide to taking more holiday time in 2023

Most Kiwis love a long weekend, and in 2023 you can take just 15 days of annual leave and get 46 days off work. Find out how here.

Don’t rely on your Gen Z family members to handle cybersecurity for your business

A new survey found that two-thirds of Australia’s small business owners believe tech-savviness equates to cyber-safety skills. As a result, they regularly hand the reins to their younger family members to keep their businesses safe. Learn what to do instead here.

Are Kiwis hard-wired to be unable to deal with failure?

Dr. Smita Singh from the Auckland University of Technology says we need to look at the words we use and the stories we tell ourselves to understand why we perceive failure so negatively in our culture.

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