i'm no fancy pants economitrician, but wouldn't the reserve bank cut rates because our economy is sucking and it's trying to stimulate it? ie national do bad job, rbnz try help - ThreadSky

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davidcormack.bsky.social • 8 days ago

i'm no fancy pants economitrician, but wouldn't the reserve bank cut rates because our economy is sucking and it's trying to stimulate it? ie national do bad job, rbnz try help

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timclicks.dev•8 days ago

Strictly speaking, no. Its sole objective is to maintain price stability. https://www.rnz.co.nz/news/political/504643/reserve-bank-dual-mandate-repeal-passes-through-parliament

popcaughan.bsky.social•8 days ago

Nah… the economy was overheated because uppity wage earners felt secure to ask for pay rises due to low unemployment.

National have fixed that pesky low unemployment problem so rates can come down again. #winning

davidcormack.bsky.social•8 days ago

thank god for national

kentduston.bsky.social•8 days ago

RBNZ doesn’t care about the economy! They only care about inflation, and like a monomaniacal 8 year old fixated on getting their pocket money they’ll keep banging away at that one number irrespective of how much collateral damage they do

danslevin.funeralsandsnakes.net•8 days ago

They used to care about employment until this government told them not to.

glocks75.bsky.social•8 days ago

Waiting for Luxon to proudly announce he's fixed the cost of borrowing crisis.

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