Clark and Cullen have proven they are good at making governments work. No one will be in a hurry to call an early election. |
Confidence is a critical element if the economy is to maintain forward momentum. Expect growth to remain tepid but a recession to be averted. |
He doesn't want to see lightening strike twice, and risk giving the housing market another wind. |
He's delivering a warning shot. The message is that they don't appear to see any problem with having monetary policy in a restrictive stance for some time. |
I'm U.S. dollar bullish over the next three months, largely because the Fed will go to 4.75 percent and they'll leave the door open to 5 percent. |
International oil prices have shifted to a higher level permanently. |
Is the economy in the midst of a recession? We find this difficult to believe. |
It is probably close to its nadir but it will improve only slowly. |
It's a question of relative risks and Bollard is more mindful of inflation. He will be comfortable with receding growth. |
Such levels have typically coincided with a short-term contraction. After five years of stellar growth, the economy is now entering a more sedate growth phase, as is required to alleviate pressure on resources. |
The decline in business confidence seen over past months has been arrested. |
The economy is far from being on the ropes. |
The housing market is not slowing sufficiently to comfort the Reserve Bank of New Zealand. |
The implicit message is that the U.S. dollar needs to go down. |
The lift in pricing intentions to their highest levels since late 2000 represents a clear warning shot. The message is one of pricing pressure and inflation risks. Monetary policy will remain in a restrictive stance. |