The country’s largest bank, ANZ, is forecasting the Reserve Bank will raise the Official Cash Rate as soon as February, after Stats NZ reported much stronger-than-expected economic growth.
Stats NZ said the economy swung back into a broad-based recovery in the three months to the end of March, with GDP jumping 1.6 per cent.
That was despite Auckland’s level 3 lockdown and the lack of international tourists during the normally busy summer season.
Let me get this straight, shutting down the border, crippling migrant worker exploitation, ending hyper tourism and international student scams has been good for the economy?
So when the Government takes an active hand in the economy, it can succeed without all the free market exploitation?
Where’s your God Milton Friedman now?
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