Quote Originally Posted by turmeric View Post
Pedantic I know, but 1.6% and rising.

Genesh Nana has been on various TV shows and radio stations airing his views. He is well respected and is arguing the projected rise is to far too fast. I'm not averse to the 25 basis point rise, it's the projected 200 point rise over two years which I think is concerning. Ganesh seems averse to any rise at all at this stage.

Worth trying to track down one of Ganesh's interviews to have a listen to what he has to say. I think he makes a very good case.
Yeah I'm a big fan of Mr Nana's view point....... from one of his blogs

the 1.6% is well within the 1% to 3% specified in the Policy Targets Agreements (PTA), and further, quite close to the 2% midpoint focus also specified in the PTA. Again, what is the problem?
http://pundit.co.nz/content/the-dark...k-star-economy

---Yes what is the problem ? IMHO what is wrong in NZ currently is the over investment in property the every increasing house-hold debt and the extremely overvalued NZD .....Now increase our OCR is going be bad for 2 out of 3 .....

I see the IMF is talking of negative rates to come...yet here in rockstar economy (rockstar in very few do well while the vast majority of us are getting a right kicking in the mosh pit) so lets keep increasing rates 90-95c USD/NZD .98-1.03 AUD/NZD how many trillions round the world are looking for yield ...if our CB walks the talk NZ banks will be offering 5%-8% yields while many in the western world will be offering peanuts sub 2% etc

The Reserve Bank hiked the Official Cash Rate by 25 basis points to 2.75% and forecast short term rates were likely to rise a further 250 basis points by early 2017 as it moved to dampen inflationary pressures generated by an economy growing faster than potential
https://www.interest.co.nz/currencie...ing-bring-down

Right so our economy is booming ?? what speculative building CHCH rebuild ,Dairy farms and importers .....my family has interests in Farming(not Dairy) and Fishing and we are getting crucified with this high NZD....we surely can't be the only ones .....

Now if many of the fisherman/farmer/Manufacturing business can't make a profit then this also affects other sectors that support them ...
just look at Aus Car Manufacturing demise dragging down thousands of other jobs>>>

Quite simply little old NZ shouldn't be leading the world on interest rates at the demise of NZ jobs just to prove we are this so called ROCKSTAR very Vain IMHO