Tuesday, 23 July 2024 11:25

OCR pressure

Written by  Milking It

OPINION: While Reserve Bank boss Adrian Orr is sticking to his 'abundance of caution' messaging, the economy is in tatters and the jungle drums beat ever louder for an OCR cut no later than November (to be clear, that's Nov 2024, not 2025!).

ANZ was one of the first banks to put a November date on it, and other banks, via their various economic newsletters and missives, are slowly aligning themselves with that view.

Milking It reckons it can't come soon enough.

The economic data reported faithfully each quarter by the media is always dated and therefore out of step with what's happening on the ground.

Out here in the real world, businesses are failing and need interest rate relief right now.

More like this

Domestic Focus

OPINION: After hogging the media limelight for telling a NZ Chinese MP to "go back home", Winston Peters has decided to focus on a domestic issue - oil and gas drilling.

A No-Brainer

OPINION: With fuel prices soaring, one would have expected most farmers to be reclaiming excise duty on petrol.

Floating Farm Sinks

OPINION: The world's first floating dairy farm, once hailed as a vision of farming's future, is up for sale after seven years.

Make It Up!

PM Chris Luxon can't seem to buy a trick when it comes to the polls, particularly for his own approval rating as preferred Prime Minister.

Featured

Taupiri Farmers Chase Ownership After Awards Success

For Taupiri dairy farmers Logan and Sian Dawson, their involvement in the NZ Dairy Industry Awards has been a key catalyst in the growth of their business - the experience helping shape how they approach the farm ownership pathway they are pursuing today.

Ballance Urges Farmers to Plan Ahead for El Niño

With forecasters advising El Niño conditions will develop through winter and strengthen into spring and summer, Ballance Agri-Nutrients is encouraging farmers and growers to think ahead about nutrient planning and be prepared to work around challenging weather conditions.

National

Machinery & Products

» Latest Print Issues Online

Milking It

Domestic Focus

OPINION: After hogging the media limelight for telling a NZ Chinese MP to "go back home", Winston Peters has decided…

A No-Brainer

OPINION: With fuel prices soaring, one would have expected most farmers to be reclaiming excise duty on petrol.

» Connect with Dairy News

» eNewsletter

Subscribe to our weekly newsletter