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Government and business leaders explain their organisations te reo Māori names
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Official cash rate hike won t end winter of discontent
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But as the shock inflation figure of 3.3 per cent released on Friday made clear, the comparative success of New Zealand’s Covid response – measured in lack of deaths, a relatively free and open economy and a strong recovery growth rate – has come at a cost.
CHRIS MARSHALL/Stuff
House prices are reaching record highs in nearly every region The Covid response of every nation around the world has come at a cost: be it in lives, loss of individual liberties, reduced economic output. In New Zealand, the costs have been more prosaic: a massive spike in property prices (the median house price has shot up nearly 29 per cent to $820,000 in the past year) an overheated housing and residential construction market and a closed border fuelling skills shortages and leaving the economy without the fillip the comparatively high level of pre-Covid migration used to deliver.
Asia stocks snap back into the red on Korea tensions
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TOKYO: Asian stocks turned lower on Thursday as investors fretted about the simmering tensions between the United States and North Korea, sending Seoul shares skidding to two-month lows even as the previous day’s rush into safe-haven assets appeared to slow.
Spreadbetters expected European stocks to follow suit, forecasting Britain’s FTSE to open down 0.6 per cent and Germany’s DAX and France’s CAC to start a shade lower.
MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 1 per cent, snapping a brief foray into positive territory early in the day and extended losses from Wednesday.
Hamish Rutherford: Political pressure rising on a political Reserve Bank
28 Apr, 2021 05:27 AM
5 minutes to read
Finance Minister Grant Robertson and Reserve Bank governor Adrian Orr in 2018. Photo / Mark Mitchell.
OPINION:
Precisely who is in charge when the Reserve Bank decides to restrict lending in the name of maintaining financial stability has been hard to pin down for a long time. Back in 2013, the Reserve Bank began the process of developing loan to value ratio (LVR) restrictions, which would have a significant impact on many aspiring first-home buyers, a politically important group that even then was facing diminishing affordability.
But the central bank s then governor, Graeme Wheeler, a former top international official with little political experience, was nowhere to be seen, as a debate over the policy brewed.
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