The Reserve Bank has revealed a funding squeeze on New Zealand's big four banks has frustrated attempts to ramp up housing supply in Auckland this year, and the squeeze is set to get worse before it gets better.
Graeme Wheeler focused his strongest comments in yesterday's post Monetary Policy Statement commentary on the risks that a Trump-led slide into protectionism and fiscal profligacy could slow growth and lift inflation and interest rates in the world's largest economies, which could in turn spill over into our currently-humming economy.
Bill English is set to be sworn in as Prime Minister more than 14 years after leading National to its worst electoral defeat, and after eight years of being John Key's right hand man without the ambition to be number one.
The ghost of John Maynard Keynes' famous quote, 'When the facts change, I change my mind. What do you do, sir?', was alive and well yesterday in both the Beehive and the Reserve Bank.