Finance Minister Bill English has been quick to blame the
previous Labour government for the fact he needs to borrow an
average of $250 million a week. Labour, for its part, blames
National's tax cuts for the need to borrow so much.
The Reserve Bank of Australia yesterday decided to continue
lessening the degree of monetary stimulus it had put in
place, while, at the same time, the Bank of Japan looks
likely take further steps to support the Japanese economy.