Inflation is set to plunge to zero by September this year, 12
months after it reached an 18-year high of 5.1%, Westpac
chief economist Brendan O'Donovan says.
Lower energy use in the United States and ongoing
redundancies helped push oil prices below $US34 ($NZ63.60) a
barrel yesterday, close to a five-year low.
Sky Network Television and Fletcher Building were providing
some good investment opportunities in current market
circumstances, Forsyth Barr broker Suzanne Kinnaird said
World growth was set to drop to its lowest level in 10 years
and no region would escape the fallout from the credit
crisis, credit reporting and business intelligence firm Dun
and Bradstreet said yesterday.
Fixed mortgage lending rates have started to fall more than
two weeks before the Reserve Bank is predicted to slash its
official cash rate by 1%.
More gloom and pessimism was heaped upon the business
community yesterday with the release of the New Zealand
Institute of Economic Research's (NZIER) quarterly survey of
Prime Minister John Key must act decisively as soon as
possible to introduce steps to stave off what is increasingly
looking like another year of recession.
New Zealand's growing debt has led international ratings
agency Standard & Poor's to downgrade the outlook for the
country's external credit rating to negative from stable.
It is times like these that I long to be part of Telstra
board that jetted to Las Vegas to attend the Consumer
Everyday borrowers might not have much to cheer about this
year despite interest rates falling significantly in recent
A fresh start from familiar foundations
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