Latest / The Kākā by Bernard Hickey
An unfair, unnecessary & counterproductive rate hike that exposes NZ’s broken economic model
Mōrena. I’m back after a rest and aim to publish on weekdays from now until the end of this election year. I’m also back for this week’s Hoon at 5pm. Here’s the key news today in Aotearoa’s political economy around housing, climate and poverty.
The Reserve Bank hiked the OCR by 25 basis points to 2.75% yesterday, as expected by the ‘wisdom of the crowds’ in financial markets and most economists. It said it had to hike to further suppress employment and wage growth in order to reduce inflation, even though that inflation was caused by the Iranian Revolutionary Guard Corps and Donald Trump, and…
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