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

Feed from farmers

OPINION: The country's dairy farmers will now also have a hand in providing free lunch for schools.

Brighter future

OPINION: The abrupt departure of Synlait chief executive Grant Watson could be a sign that Chinese company Bright Dairy, the new majority owner of the listed company, is taking charge.

Musical chairs

OPINION: DairyNZ's director elections has seen scientist Jacqueline Rowarth re-elected for another three-year term.

$500k for chair

OPINION: Fonterra's chair will be paid nearly $500,000 if shareholders approve a proposal by the directors' remuneration committee.

Tatua's just too-good

OPINION: Earlier this month, small Waikato milk processor Tatua reminded the country that it’s still number one when it comes to paying farmers for their milk.

Featured

New ag degrees at Massey

Changing skill demands and new job opportunities in the primary sector have prompted Massey University to create a new degree course and add a significant major into another in 2025.

The show is on!

It was bringing in a new Canterbury A&P Association (CAPA) show board, more in tune with the CAPA general committee, that has ensured that Christchurch will have a show this year, says CAPA general committee president Bryce Murray.

National

MilkHub sold

Milk vat manufacturer DTS is selling its dairy automation business to MilktechNZ.

'Quite a journey'

Former Synlait chief executive Grant Watson says the past two years have been quite the journey.

DairyNZ levy to increase?

Retiring chair Jim van der Poel has used his final AGM to announce the intention to increase the DairyNZ farmer…

Machinery & Products

Milk Sustainability Centre launched

The recently announced Milk Sustainability Centre – a collaboration between global giant John Deere and milking and feed specialists De…

Data connection made easier

New Holland and Case IH are introducing new advancements in their precision technology stack to make farming easier and more…

» Latest Print Issues Online

Milking It

Feed from farmers

OPINION: The country's dairy farmers will now also have a hand in providing free lunch for schools.

Brighter future

OPINION: The abrupt departure of Synlait chief executive Grant Watson could be a sign that Chinese company Bright Dairy, the…

» Connect with Dairy News

» eNewsletter

Subscribe to our weekly newsletter