Tuesday, 15 October 2024 10:25

Too little, too late

Written by  Milking It

OPINION: Economists, in their usual excitable tones, have, for a while now, been openly questioning the Reserve Bank’s glacially slow reaction to the recessionary economic conditions we’re all drowning in.

ASB’s October RBNZ Preview was one example: “We are increasingly concerned that the OCR is very high relative to a more neutral level in an economy where inflation pressures and capacity have in effect already normalised.”

Translation: The RBNZ has crashed the economy and urgently needs to cut the OCR

In the first week of October, ASB was expecting two 50bp cuts in 2024 (last week the RBNZ dropped the OCR by 50bp) and a further 25bp cut in February 2025- with one of their economists saying, “the largest regret now facing the RBNZ is moving too little, too late”.

More like this

Free speech

OPINION: The Free Speech Union is taking this one too far.

Drug survey

OPINION: New national data from The Drug Detection Agency (TDDA), a leading workplace drug tester, shows methamphetamine (meth) use is growing and making up a disproportionate share of nonnegative workplace drug test results.

Genuine Hipkins

OPINION: At the recent NZ Dairy Industry Awards, opposition leader Chris Hipkins made a surprise appearance.

Unserious greens

OPINION: The Greens aren't serious people when it comes to the economy, so let's not spend too much on their fiscal fantasies.

Featured

LIC Space folds for good

Farmer co-operative LIC has closed its satellite-backed pasture measurement platform – Space.

Editorial: Time for common sense

OPINION: The case of four Canterbury high country stations facing costly and complex consent hearing processes highlights the dilemma facing the farming sector as the country transitions into a replacement for the Resource Management Act (RMA).

National

DairyNZ Farmers Forum underway

Over 300 farmers and rural professionals have gathered in Hamilton for the first DairyNZ Farmers Forum for this year.

Machinery & Products

Shearing legend hooked on CanAm

Sir David Fagan, world-renowned competitive sheep shearer with 642 shearing titles worldwide and a knighthood to his name, now runs…

50 years of tractor pull

This year, the Fieldays Tractor Pull, in association with PTS Logistics, mark a major milestone – 50 years of crowd-thrilling…

The Wrangler's birthday bash

It's the Wrangler Limited’s 30th birthday and to celebrate the milestone a prototype of the E Series Wrangler - a…

» Latest Print Issues Online

Milking It

Free speech

OPINION: The Free Speech Union is taking this one too far.

Drug survey

OPINION: New national data from The Drug Detection Agency (TDDA), a leading workplace drug tester, shows methamphetamine (meth) use is…

» Connect with Dairy News

» eNewsletter

Subscribe to our weekly newsletter