fbpx
Print this page
Tuesday, 15 October 2024 10:25

Too little, too late

Written by  Milking It
Too little, too late

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

Science fiction

Science fiction

OPINION: Last week's announcement of Prime Minister’s new Science and Technology Advisory Council hasn’t gone down too well in the science community.

Bye bye Paris?

Bye bye Paris?

OPINION: At its recent annual general meeting, Federated Farmers’ Auckland province called for New Zealand to withdraw from the Paris Agreement on Climate Change.

What's going on?

OPINION: On the 2nd of May, Agriculture Minister Todd McClay announced that the 'government remains on track to ban full farm-to-forestry conversion'.

Cows down

OPINION: It's not happening as fast as the greenies would like - they actually want all livestock other than Muscovy ducks and Tibetan Llamas to disappear entirely - but it is happening.

Less hot air

OPINION: Farmers won't get any credit for this from the daily media, so Milking It is giving the bouquets where they’re due.

Popular Reads

Featured

Case IH partners with Meet the Need

Case IH partners with Meet the Need

Tractor manufacturer and distributor Case IH has announced a new partnership with Meet the Need, the grassroots, farmer-led charity working to tackle food insecurity across New Zealand one meal at a time.

25 years on - where are they now?

To celebrate 25 years of the Hugh Williams Memorial Scholarship, Ravensdown caught up with past recipients to see where their careers have taken them, and what the future holds for the industry.

Rockit Global appoints COO

Rockit Global has appointed Ivan Angland as its new chief operating officer as it continues its growth strategy into 2025.

National

Top ag scientist to advise PM

A highly experienced agricultural scientist with specialist knowledge of the dairy sector is the Prime Minister's new Chief Science Advisor.

Machinery & Products

Hose runner saves time and effort

Hose runner saves time and effort

Rakaia-based equipment manufacturer Pluck’s Engineering will soon start production of a new machine designed to simplify the deployment and retrieval…