The Reserve Bank of Australia left its official cash rate
unchanged at 4.75% yesterday, the first in a series this week
of central banks expected to keep their rates on hold.
The Government would have to make some tough choices as its
current account deficits continued to grow in the next
perhaps three to five years, BNZ senior economist Craig Ebert
When journalists and others attend embargoed briefings at the
Reserve Bank and Treasury, they are required to hand in their
mobile phones and other transmitting devices at the door.
The New Zealand Superannuation Fund's investments helped
soften the impact for the Government of falling tax revenue
and lower-than-forecast economic growth in the four months
Today is the start
of a defining week for the Government as some of the last
data for the year gets released.
Compulsory superannuation would have saved the New Zealand
economy through the recession, New Zealand First leader
Winston Peters said yesterday.
Dunedin tax practitioners
are worried privately about an expected 40 jobs going from
the city's Inland Revenue Department offices, but Revenue
Minister Peter Dunne says no decision has been made.
The numbers were stacking up for home owners with mortgages
to start fixing for two years, BNZ chief economist Tony
Former Dunedin man Tim Isaacs is currently heading one of
the largest forestry industry training organisations in
Australia. He talks to business editor Dene Mackenzie about
the challenges of his industry
Financial markets bounced back around the world yesterday
after the Dow and the Standard & Poor's 500 scored their
biggest gains in three months.
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