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Economic weather report: Wholesale deflation and services contraction point to another OCR cut

Posted in News


Bernard Hickey delivers the latest Economic Weather Report in association with ASB, including news that wholesale prices for both inputs and outputs fell in the March quarter, which was more than economists expected. The services sector, which includes tourism, contracted for its 11th month in a row in April and the Performance of Services Index showed another deterioration. Both of these figures indicate the Reserve Bank will have room to cut the Official Cash Rate by a further 25 basis points to 2.25% on June 11. But it's unlikely to be passed on by banks to savers and borrowers because their overseas funding costs are high and savers here will not tolerate more rate cuts.

We welcome your help to improve our coverage of this issue. Any examples or experiences to relate? Any links to other news, data or research to shed more light on this? Any insight or views on what might happen next or what should happen next? Any errors to correct?

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econ 101 finals exam question

econ 101 finals exam question 1:
What happens when demand for credit greatly exceeds supply over a protracted period of time?
Write your answer in less than 10 words.

D'oh

D'oh

AndrewJ, Thanks...Bill Maher interviewing the

AndrewJ, Thanks...Bill Maher interviewing the enlightened Eliz Warren who not knowing how she got there is sorting out the shonky TARPualine is a must watch. She will be an interesting person to watch.

The Washington Post and Nationalistic protection trend is inevitable. Some of us predicted such trends long, long ago. I suspect the Anchor Butter shun in the UK is based on the same premise. Countries will go for homebased product.

Do Woolworths NZ buy Marmalade from Denmark and repackage it in NZ ? NZ consumers need to read the small print. The Japanese do..they scrutinize labels,mainly to discern ... made in China...pity the Mexican Taco sales in JP.

JP tourists have cancelled out travelling to NZ because of NZ's Swine Flu (Porky Mikes exposure of crated pigs will be noticed ...that wont be all. The Japanese eat more Buta (pork) than Beefu.

My opinion is many Japanese will think all NZ product will be tainted with Sanlu and Swine Flu !!! Such thinking spreads like a virus in Japan and they act in unison.

Bernard, add these 'declining clean green' image variables to your service and agriculture forecast predictions.