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

It's all about economics

OPINION: According to media reports, the eye-watering price of butter has prompted Finance Minister Nicola Willis to ask for a 'please explain' from her former employer Fonterra.

Red line on dairy

OPINION: As India negotiates to open its borders to more global products, dairy is proving a sticky issue.

Farmland security

OPINION: Paranoia about foreigners is at an all-time high in the US and attention is now turning to foreign-owned farmland.

Cuddling cows

OPINION: Years of floods and low food prices have driven a dairy farm in England's northeast to stop milking its cows and instead charge visitors to cuddle them.

Featured

Editorial: No need to worry

OPINION: What goes up must come down. So, global dairy prices retreating from lofty heights in recent months wouldn’t come as a surprise to many farmers.

National

Machinery & Products

New pick-up for Reiter R10 merger

Building on experience gained during 10 years of making mergers/ windrowers, Austrian company Reiter has announced the secondgeneration pick-up on…

» Latest Print Issues Online

Milking It

Price cut coming?

OPINION: Dipping global dairy prices have already resulted in Irish farmers facing a price cut from processors.

Butter price melt

OPINION: Are the heydays of soaring global demand for butter over?

» Connect with Dairy News

» eNewsletter

Subscribe to our weekly newsletter