The Government canned a capital gains tax yesterday after the coalition parties failed to reach consensus on it, but Prime Minister Jacinda Ardern said the coalition had agreed to tighten rules around land speculation and work on ways to counter landbanking.
Destroying your knowledge base before replacing it fully with a new model has to be one of the sillier ventures our national statisticians have embarked upon, and the consequent guesswork can lead to all sorts of wrong conclusions…. Nevertheless, the new model is starting to become useful.
ANZ Bank NZ Ltd introduced a new factor to its lending policy today – a discount for lifting the construction standard.
Statistics NZ estimates the net inflow of migrants in the 12 months to February was 61,600 – a figure which will be changed every month for a few months as the Government agency adjusts its figures based on actual migrant movements.
The Reserve Bank of Australia’s board decided yesterday to leave its cashrate unchanged at 1.5%… What his statement below emphasises, for me, is that the limited tools central bankers have are not adequate to provide nuanced direction.
The Reserve Bank held the official cashrate at 1.75% today, and governor Adrian Orr said: “Given the weaker global economic outlook & reduced momentum in domestic spending, the more likely direction of our next OCR move is down.”