ADRIAN ORR our NEW RBNZ GOVERNOR

[Aaron]

I would be very surprised to see that.
I've been calling for rate cuts for ahead of the market for some time, I.e first 3 - 6 months of 2024. Perhaps a 50bp cut, but I think more likely 25bps as inflation although a lagging indicator is still a lot higher than the 1 - 3% target band.

That ANZ Economist who called for a rate rise last month got the publicity she was looking for, but now just looks foolish.

I wish my memory was better, but I don't recall a lot of strident calls for rates rises when house prices were going gang busters and mortgage rates were 2-3%, just endless conversation about how much everyone was making and how high prices could go. Adrian was talking about the banks preparing for negative interest rates without so much as a peep from the experts about how insane that would be.

Winner might have suggested the RBNZ was a bit off but I do not recall many others.

The financialisaton of the economy has resulted in a lot of pointless activity such as property speculation, crypto currencies and day trading. Perhaps savers and investors should get a return on investment and the dead wood speculators can go for a long overdue skate.

Although that might be bad news for my favourite online forum.