Written By: - Date published: 9:21 am, August 11th, 2016 - 28 comments
The Reserve Bank just cut the OCR to a historic low of 2%. And no it’s not good (economic) news.
Written By: - Date published: 9:43 am, March 16th, 2016 - 185 comments
Yesterday Andrew Little criticised the banks’ failure to pass on the cut in Official Cash Rate (OCR) to we the people via mortgage / interest rate cuts. Naturally the political right went ballistic.
Written By: - Date published: 1:20 pm, April 7th, 2014 - 13 comments
It isn’t a new ploy from National or its supporters. “Mortgage rate rises under National: Good. Mortgage rate rises under Labour: Dreadful!”. I’ve seen David Farrar argue both that a recession is the perfect time to cut taxes because it stimulates the economy, and a recovery is also the perfect time to cut taxes to provide a dividend. It reminds me of that old chestnut, most recently applied to Don Brash: “The answer is tax cuts. What is the question again?”
Written By: - Date published: 10:43 am, July 29th, 2010 - 20 comments
Reserve Bank Governor Alan Bollard has lifted the official cash rate from 2.75 to 3 per cent, while expressing concerns about the weakness of New Zealand’s economic recovery.
Written By: - Date published: 2:24 pm, November 23rd, 2009 - 59 comments
By and large the Right are refusing to defend their neoliberal monetary policy system. The currency is causing chaos, the housing bubble is back, and the Reserve Bank is in a ‘damned if you do, damned if you don’t’ position as it tries to control inflation. But the Right treat the neoliberal doctrine like a […]