- John P
Judging by how the people in Christchurch, Wellington and Auckland have been out in force throwing money around in the past week since Orr lectured the public about pulling our heads in on spending, he will need to raise the interest rate even higher than what he foreshadows. The price to fix his past sins will be higher than he thinks.
- Luka D
We’re in a very uncertain environment that’s for sure. A great article by Liam shows the difficulty of predicting exactly what will happen. That being said, it didn’t need to be like this had the RBNZ turned off the money printing much sooner and the Government opened the borders much sooner. In the last few days a successful business like Rodney Wayne has closed salons and Madam Woo has gone into voluntary administration. These aren’t poorly performing businesses that were financially suspect. They’re very good businesses that have closed because of an engineered Labour crisis.
- Alan M
In August, Adrian Orr told us the OCR would peak at 4.1 per cent. In November Orr told us the OCR would peak at 5.5 per cent. Three months and the RBNZ projection had jumped in percentage terms by a massive 34 per cent (1.4 per cent on the original 4.1 per cent). Join the dots, Liam - yes they are wrong, and yes it will be much much worse than what Orr has told us, especially with the Government having pretty much said they will not be stopping spending and the usual election year bribes yet to come next year.
- Brad M
If they can’t get it right as the article suggest why bother having this bunch of overpaid bureaucrats?
- Pim V
It will be worse than the RBNZ is forecasting. The residential construction sector is on the edge of a massive slump, and it is pivotal to the domestic economy. With the slump occurring in that sector there will be less spending in hospitality, domestic tourism etc - the multiplier effect.
- Matt P
Skilled professionals are leaving in droves and replaced anywhere close to fast enough if at all. Salary demands for those that remain are going through the roof. That’s what needs to change together with government belt-tightening or inflation will remain high. I don’t see it changing with Labour.
- Wayne M
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