Finance Minister Grant Robertson is encouraged by the state of the economy and the Government's books despite lower business confidence, but is eyeing an elevated currency. Bernard Hickey reports.
Good morning all.
For the convenience of email-avoiding subscribers and samplers, here's the email sent earlier on Wednesday, including Bill English's report back on the Australian economy after his trip there last week and talk of a parity party later this afternoon.
For the convenience of email-avoiding subscribers and samplers, here's the email sent earlier on Wednesday, including confirmation Auckland's housing market volumes and prices boomed in March, while the 'parity party' was postponed because Australian interest rates were not cut as expected, in part because of Sydney's housing boom.
For the convenience of email-avoiding subscribers and samplers, here's the email sent earlier on Tuesday, including John Key seeing parity with the Australian dollar as a cause for celebration and Steven Joyce looking to cut the Government's target of growing exports as a share of GDP.
The Reserve Bank published its March Quarter Monetary Policy Statement (MPS) , held a news conference and appeared before Parliament's Finance and Expenditure Committee on Thursday. Here's the nine key things of note from the set-piece statement and the ensuing commentary.
For the convenience of email subscribers, here is my weekend column in which I look at why Auckland's property market is getting its second wind just as the high NZ dollar kicks dairy farmers and fishermen in the guts.
Speaking less than two hours before the Reserve Bank confirmed it intervened to push the New Zealand dollar down in August, Prime Minister John Key was remarkably relaxed about the prospect of intervention, which he said he had not been briefed on.
Reserve Bank Governor Graeme Wheeler took the unusual step on Thursday afternoon of issuing a full statement titled "New Zealand's Exchange Rate: Why the Reserve Bank believes its level is unjustified and unsustainable."
The Reserve Bank of New Zealand published its September quarter Monetary Policy Statement (MPS) and held its regular post-statement news conference on Thursday. Here's the ten things of note from the statement, the conference and the reaction. The bottom line is the OCR could now be on hold until mid 2015.