Walk The World Adrian Orr, RBNZ Governor said they were lifting the Official Cash Rate by 0.5% today, with a peak of 5.5% still on the cards. The recent Cyclone may also add additional inflationary pressure.
He also highlighted the importance of cash – and branches – at a time of crisis, like when the power goes out. And the risks to social cohesion when this is ignored. Just wow!
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That's new — latest weather report from the reserve bank: flood damage expected from heavy downpour of monetary stimulus followed by destructive inflationary winds.
RBNZ is more responsible than RBA.
Our leaders would prefer we just struggle with high inflation yippee
The regional areas I am watching still seem to have house price rises..
Two thousand more properties added to a certain popular real estate website today, although I don't think their numbers are entirely to be trusted. Sign of things to come?
What a crazy system we have when its bad for there to be full employment….
How are these rate rises not going to detonate Australia and New Zealand’s ridiculous property bubbles?
Thanks Martin.
Glad I paid my mortgage off here in NZ at the end of last year …timed the end of my fixed rate at 2.49% perfectly. Feel for others who are about to feel the pinch.
Interest rate inflation doesn’t cause deflation
On the contrary!
Can you imagine wot would happen if base rate rose to7%? House price falls of 40%
At least Kiwi’s will get free housing and pensions when times get a bit tough ! ( In Australia 🇦🇺 ) let the good times roll 🎉 again . 💵💵💵💵💵
She already left the building cuzz. Blame the weather. Watch the shaking hand
Inflation going nowhere but up due to all central banks money liquidity pushed into the economy.
What BS, our dollar has strengthen with lower cash rates than others. Inflation will flatten itself out as supply comes back, already seeing that with fuel and food prices flattening. Putting up interest rates only hurts borrowers whilst releasing cash and spending power to investors ( more investment than borrowings so whats the net effect?). If interest rate hikes was the cure to supply driven inflation all countries would have seen inflation drop by now (and please none of this rubbish about a lag, there isnt one when most borrwers are variable). These clowns will drive us all in recession, for god sake put away the 1970s economics 101 textbooks…
Again NZ is leading the way.
Ardern for Aust PM.
You will own nothing but be happy hmmm wonder how they'll achieve this 🤔…..everyone will wake up one day and realise..S__t, i own more to the bank than what my house is worth.
damnation weather has arrived
RBA where are ya????? Lift your game 😅
Too many sheep and not enuf gumboots!
Restrict cash at your peril…
Too bad even term deposits don't keep up with the inflation rate. You still lose by saving. And apparently any raises you get for your work is bad for inflation, so again, loss.
How much did the top 1% increase their wealth during the Covid years? More than double!? And how many governments and banking institutions were complicit in making this happen? Now they are saying that us little people will need to feel financial pain to set things right!? This is the biggest weath transfer/robbery in history. Why do we keep accepting this?
Banks are not your friend.
Adrian Orr – 2014 – NZ Superannuation Fund CEO – WEF Global Investment Board Member – Connect the dots. As soon as he says climate change you know he is in on the act they are key words to his puppeteers. 1938 flooding exactly the same with all the silt etc hit Napier and the Esk Valley it is not the climate change it is historical climate . Climate change narrative attempts to siphon money out of our country to the puppeteers. Orr is 100% in on the agenda do not be fooled.
What I love the most about all the this is the NZ Wineos trying to work out what it all means.
"Does this mean I can still buy beer? Will I have to sell the property I bought? I thought I was a property developer."🤣🤣