Bernard Hickey

About

Bernard is back as a senior contributor on interest.co.nz. Until September 30, 2012 he was the managing editor here. He had previously worked for 18 years for Reuters, the FT Group and Fairfax as a financial journalist and editor. He is now the publisher of The Kaka.

Member for

12 years 9 months

Latest articles

National/ACT could govern alone

Poll shows National/ACT could govern alone, but revelations new MP beat up a kid cloud the news

8th Aug 22, 8:07pm

by Bernard Hickey

Poll shows National/ACT could govern alone, but revelations new MP beat up a kid cloud the news

Credit contracts & consumer finance rules tweaked again

Commerce Minister David Clark relaxes CCCFA rules for assumptions on credit card and buy-now-pay-later debt

2nd Aug 22, 3:32pm

by Bernard Hickey

Commerce Minister David Clark relaxes CCCFA rules for assumptions on credit card and buy-now-pay-later debt

Hopes grow for global soft landing

Investors jubilant at the prospect of central banks avoiding brutally high interest rates, but the danger is far from gone

28th Jul 22, 2:15pm

by Bernard Hickey

Investors jubilant at the prospect of central banks avoiding brutally high interest rates, but the danger is far from gone

What a true Reserve Bank inquisition would look like

Bernard Hickey suggests some terms of reference for a truly independent inquiry into the Reserve Bank's 'tidal wave of cash' unleashed in 2020 and 2021

28th Jul 22, 1:07pm

by Bernard Hickey

Bernard Hickey suggests some terms of reference for a truly independent inquiry into the Reserve Bank's 'tidal wave of cash' unleashed in 2020 and 2021

Luxon wants RBNZ review before Orr reappointment

[updated]

National wants review of Reserve Bank's 'inflationary money printing' before decision on Governor's second term; Robertson rejects call from 'Captain Hindsight'

26th Jul 22, 3:56pm

by Bernard Hickey

National wants review of Reserve Bank's 'inflationary money printing' before decision on Governor's second term; Robertson rejects call from 'Captain Hindsight'

Now Wheeler hammers Orr too

[updated]

One-term Governor joins Brash, Spencer, Grimes and McDermott in criticising RBNZ's QE-laden looseness since 2019

26th Jul 22, 8:41am

by Bernard Hickey

One-term Governor joins Brash, Spencer, Grimes and McDermott in criticising RBNZ's QE-laden looseness since 2019

Why Covid windfall taxes make sense

Bernard Hickey argues $20b of Covid cash should be returned to taxpayers, along with $20b of the $621b of Covid-era capital gains 'earned' by households

25th Jul 22, 1:42pm

by Bernard Hickey

Bernard Hickey argues $20b of Covid cash should be returned to taxpayers, along with $20b of the $621b of Covid-era capital gains 'earned' by households

Shaw's ejection exposes Green rift

James Shaw ejected as co-leader by restive members; he says he'll stand again for co-leader; says he would also stay as Climate Minister if he loses again

25th Jul 22, 1:09pm

by Bernard Hickey

James Shaw ejected as co-leader by restive members; he says he'll stand again for co-leader; says he would also stay as Climate Minister if he loses again

Sharing the blame doesn't make it go away

Reserve Bank may have lots of good company in the money-printing dog box, but that doesn't let it or the Government off the hook on inflation

21st Jul 22, 1:37pm

by Bernard Hickey

Reserve Bank may have lots of good company in the money-printing dog box, but that doesn't let it or the Government off the hook on inflation

Construction on a home. Photo: Lynn Grieveson

Groundhog Day for our fatally-flawed house builders

Builders report 80% to 90% slump in new home inquiries and fear another 2009/10-style bust

21st Jul 22, 5:00am

by Bernard Hickey

124

Builders report 80% to 90% slump in new home inquiries and fear another 2009/10-style bust

Bonds, property excluded in new migrant investor regime

Govt rejigs investor migrant scheme to force more direct investment in firms, rather than just bonds and property; National says it'll scare off risk-averse rich migrants; Greens say rich favoured while poor migrant workers live precariously

20th Jul 22, 7:38pm

by Bernard Hickey

Regular petrol import profit margins per litre. Data via MBIE

Fuel tax cut extended to end of January

Robertson extends 25c/l fuel tax cut and half price bus, train fares from mid-Aug to end of Jan at cost of $652m

17th Jul 22, 4:55pm

by Bernard Hickey

Robertson extends 25c/l fuel tax cut and half price bus, train fares from mid-Aug to end of Jan at cost of $652m

Why the 'squeezed middle' is actually quite plump

Bernard Hickey challenges the idea the 'squeezed middle' need tax cuts or hand outs. The 'squeezed middle' is actually flush with cash, paying relatively little for their mortgages & their household incomes have grown faster than inflation since Covid

17th Jul 22, 6:00am

by Bernard Hickey

Pull both the migration AND the infrastructure levers

Bernard Hickey suggests a bipartisan deal to ensure any decision to unleash a migration surge happens as well as the long-required surge in infrastructure investment

16th Jul 22, 9:30am

by Bernard Hickey

185

Bernard Hickey suggests a bipartisan deal to ensure any decision to unleash a migration surge happens as well as the long-required surge in infrastructure investment

The push-me-pull-you central bank

Bernard Hickey asks why the Reserve Bank is still encouraging banks to lend cheaply and subsidising their profits at the same time as trying to slow the economy?

14th Jul 22, 4:38pm

by Bernard Hickey

Bernard Hickey asks why the Reserve Bank is still encouraging banks to lend cheaply and subsidising their profits at the same time as trying to slow the economy?

The fiscal rules behind our unbalanced economy

Both parties assume New Zealand must keep tax and net debt around 30% of GDP. Bernard Hickey argues this assumption underpins the fatally flawed model NZ Inc is addicted to

12th Jul 22, 7:04pm

by Bernard Hickey

Both parties assume New Zealand must keep tax and net debt around 30% of GDP. Bernard Hickey argues this assumption underpins the fatally flawed model NZ Inc is addicted to

The unintended consequences of treating kiwis fairer in Australia

PM Jacinda Ardern convinced Australia's new Labor PM Anthony Albanese to put NZers in Australia on pathway to citizenship. That may accelerate the brain drain

11th Jul 22, 9:55am

by Bernard Hickey

PM Jacinda Ardern convinced Australia's new Labor PM Anthony Albanese to put NZers in Australia on pathway to citizenship. That may accelerate the brain drain

Have mortgage rates just peaked?

Team Transitory made a comeback this week as commodity prices fell to pre-war levels and inflationary expectations sagged. Bernard Hickey explains why he's still a paid up Team Transitory member

10th Jul 22, 12:08pm

by Bernard Hickey

Team Transitory made a comeback this week as commodity prices fell to pre-war levels and inflationary expectations sagged. Bernard Hickey explains why he's still a paid up Team Transitory member

The 2 Degrees effect for groceries too?

Bernard Hickey hopes a Groceries Commissioner can do for the Foodstuffs-Woolworths duopoly what the Telecommunications Commissioner did for Telecom-Vodafone

7th Jul 22, 3:32pm

by Bernard Hickey

Bernard Hickey hopes a Groceries Commissioner can do for the Foodstuffs-Woolworths duopoly what the Telecommunications Commissioner did for Telecom-Vodafone

Commerce Minister David Clark renews drive to lower duopoly profits

Government proposes telco-style grocery industry regulator and mandatory code of conduct

6th Jul 22, 3:15pm

by Bernard Hickey

Government proposes telco-style grocery industry regulator and mandatory code of conduct

Business confidence slumps to March 2020 lows

QSBO survey shows confidence about wider economy at lowest since first Covid lockdown; NZIER says survey unlikely to budge RBNZ from fast hiking plans

6th Jul 22, 6:54am

by Bernard Hickey

QSBO survey shows confidence about wider economy at lowest since first Covid lockdown; NZIER says survey unlikely to budge RBNZ from fast hiking plans

Are the ‘market fundamentals’ underpinning our house market really changing? Photo: Lynn Grieveson

Is the tide really going out on the 'one-way bet' housing market?

Bernard Hickey peels through the layers of the Reserve Bank's hopes that this time the 'one-way bet' for housing is about to turn

3rd Jul 22, 6:00am

by Bernard Hickey

159

Bernard Hickey peels through the layers of the Reserve Bank's hopes that this time the 'one-way bet' for housing is about to turn

Why we all need Matariki accounts

Individual accounts at the Reserve Bank for all residents would be a better way to do money printing than buying Government bonds, especially if it was done with a new digital currency, Bernard Hickey argues

26th Jun 22, 6:00am

by Bernard Hickey

Finally, National's old guard is gone (almost)

Long-time National President Peter Goodfellow retires as President, but even his staged (partial) departure triggers internal ructions

24th Jun 22, 9:00am

by Bernard Hickey

Long-time National President Peter Goodfellow retires as President, but even his staged (partial) departure triggers internal ructions

PM hints at action on GIB crisis

Ardern concerned GIB shortages hurting housing supply; expects Woods to move later this week as critics call for supermarket-style breakup of Fletcher’s monopoly

20th Jun 22, 7:48pm

by Bernard Hickey

Ardern concerned GIB shortages hurting housing supply; expects Woods to move later this week as critics call for supermarket-style breakup of Fletcher’s monopoly