These Are 'Interest-ing' Time We Are In

In a surprising move last week, the Reserve Bank slashed the Official Cash Rate (OCR) down to 1%, supposedly to reflate New Zealand's flagging economy.

The rate cut was expected, however only by .25% points to 1.25%. Cutting by half a percentage point has only ever ocurred 3 times in New Zealand since OCR's introduction in 1999; after the September 2001 terror attacks on the US, the 2008 GFC and the Christchurch earthquakes.

All in all this is big news for New Zealand, however what does it really mean? As expected, there are many and varied opinions on the matter, not least of which relates to less dollars being paid out to savers and those of retirement age.

For more insight, here's initial analysis from the NZ Herald* which sums it up nicely.





What Our Customers Think

Great local Accountants. They provide an excellent service with great explanations for the layman. They provide accounting services for non rural clients too.

Quinn Wilson, Restaurant Owner, The Wagon
What Our Customers Think

Rural Accountants is a real asset to our business.

The team at Rural Accountants pretty much manage all our administrative tasks for the group including payroll and tax planning, ensuring we don’t pay any more than necessary. They are at the forefront of technology and have helped us get up and running with Xero and Figured which is much more efficient than the way we used to work.

Sam Jones, Managing Director, Sybton Farm Ltd Partnership
What Our Customers Think

Christine is very knowledgeable, great to deal with and knows our business well. She is also a sheep & beef farmer so knows the industry really well and understands our needs.

Rural Accountants keeps us on track through strategic and forward planning meetings throughout the year. Christine knows our business inside out so she can deal with our questions instantly.

Mathew & Gemma Barham, Hawke’s Bay Farmer of the Year 2012
What Our Customers Think

What Our Customers Think

I used to work out my GST and process it manually which would take me at least a full day every two months. The team set up reconcilliation rules and other quick tools, and showed me how to do all my reconcilliations and process my GST returns through Xero which now takes me no time at all!

Mike O'Neill, Financial Services Northland Ltd
What Our Customers Think

As a farmer, Christine understands our business and how farmers and growers operate.

We use Rural Accountants to provide a full accounting service to an orcharding partnership which operates a number of orchards with a wide spread of varieties and management systems. Rural Accountants are always timely and accurate, and their annual financial accounts are extremely easy to understand and very grower-friendly.

Paul Jones, Orchardist