Latest / The Kākā by Bernard Hickey
The longer recession the RBNZ and the Govt decided we had to have
Kia ora. Long stories short:
* The RBNZ was forced to make a dramatic about-turn yesterday, cutting rates after the slowdown it wanted was turbocharged into a recession by the Government’s abrupt closure of construction pipelines for state-funded building of homes, schools, hospitals and water networks, and its slashing of thousands of public sector jobs shocked parts of the economy to a standstill.
* The forecast of a longer and deeper recession came as Civil Contractors NZ said its 2024 survey results showed the Government’s freezing of capital spending had unnecessarily caused a crisis and…
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