Bernard Hickey details the key news over the weekend in 90 seconds at 9am in association with BNZ, including news from the Sunday Star Times that the New Zealand Cooperatives Association has suggested to the government that Kiwibank be turned into a Cooperative rather than be sold. The idea is that Kiwibank customers be given shares for 60% of Kiwibank, while the government retains 40%. Your view? Comments below please.
Meanwhile, Treasury Secretary John Whitehead told TVNZ's Q&A Treasury had recommended to government a loosening of the rules governing foreign investment. Whitehead also called for a debate on compulsory superannuation, arguing New Zealand couldn't afford its existing system. Should we have a debate on compulsory superannuation?
Also, Reserve Bank of Australia is expected to hold its official cash rate at 4.5% tomorrow, Bloomberg reported. It has already hiked its rate 6 times since October, taking plenty of steam out of the economy. Here in New Zealand, the Reserve Bank is expected to hike our Official Cash Rate from 2.5% on either June 10 or July 29. When do you think the Reserve Bank should hike the OCR here?
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