Official Cash Rate drops by 50 basis points to 3.75%
As expected the Reserve Bank has lowered the OCR by 50 basis points to 3.75%.
Adrian Orr has declared inflation tamed and it’s all going swimmingly.
Apparently all the money we will earn from exports will see the economy grow making Luxon’s optimism only the second most delusional.
It mentions the volatility of the American dollar impacting petrol prices and the geopolitical threats as events that won’t really impact us and if they do, Adrian says he’ll cut again.
Meanwhile an historic exodus is occurring as unemployment blows out to 5.1 with more job losses to come.
Adrian Orr may as whistle ‘Always look on the bright side of life’.
Let’s see what tune he’s whistling when the full impact of Trumponomics hits.
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Well where is the interest in buying the Kinleith mill and gathering deposits from middle class Kiwis who actually support the country with an investment trust to ensure basic self-sufficiency and as a worthy place to live in and be part of, rather than spend time in?
Even for a quiet canny investor the lack of information from noteworthy weight-lifter/s is deafening! Come on you pansies!
I’m somewhat surprised by this tbh. This will only serve to boost house prices (which no one wants, unless you already have a house) and thus rents. It lowers the NZD which will not be good for imported goods (i.e. more inflation). It seems a risky move imo – especially with an aggressive 50 bps vs 25.
Yeah, well, high interest rates destry jobs, supress wages and increase mortage repayments for FHB.
Adrian Orr has succumbed to being pecked to near death by the great bald one, the CEO of CEO’s, he that ran an airline at a loss. FFS c’mon fellow Kiwi’s we are in freefall…..again!
Off topic but when is the working group coming back, Bomber?
Bomber has stated elsewhere sometime in March.
He needs 3 months free of Damian Grants rants he said in the comment.
Off topic, but it looks like I have now been permanently banned from The Standard. So, you are stuck with me.
That’s a shame. Shouldn’t poke the GCF bear too often.
Robertson reappointed Orr when National and ACT would not have. They were publicly surprised. So, we are stuck with him thanks to Robo. Orr’s increase in interest rates was always going to cause unemployment because employers borrow money (no doubt news to most on this blog). So, there is nothing in this. Thanks Robo.
Clearly he has no faith in the current government hence the feeling he needs to lower the interest rates to help them out with the resultant increase in house prices which are not taken into account when inflation is being as worked out .
Luxon talks growth and people slagg Grant as seen above ,but remember when not so long ago he presided over 7% growth .Yes 7%
Now the skin head gang leader is desperate to do the same by flooding the country with people to cue up outside the local dunny .
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