Today’s decision by the RBNZ to increase the official exchange rate from 0.25% to 0.5% shows that the bank was forced to make a risky decision despite the lockdown of two major New Zealand cities, National shadow treasurer Andrew Bayly said.
“The government’s failure to deploy the vaccine and prepare our Covid defenses has forced the Reserve Bank to make this decision amid the lockdown, which is incredibly risky for the economy.
“Obviously, the Reserve Bank found that the cost of living was rising too quickly and its hand was forced. This has been exacerbated by huge amounts of unnecessary and untargeted spending by the government on issues totally unrelated to Covid’s response.
“Due to the government’s lack of fiscal discipline and its inability to prepare for another Covid outbreak, mortgage lenders and businesses are now facing rising interest charges at a time when they can least afford it. allow it.
“The government should now take inspiration from the Reserve Bank and curb unnecessary spending and focus relentlessly on its Covid response, and ensure businesses survive the current extended lockdown. “
© Scoop Media
So far, South Korea’s cultural industries appear to be pandemic-proof. They are also gaining huge global audiences, not just large national audiences. In recent years, South Korean TV series (Squid Game, Descendants of The Sun) and movies (Parasite, Oldboy, The Handmaiden) have become global hits. However, it was the music industry led by the BTS group that made the strongest impression on Western audiences, and on a scale not seen since the heyday of The Beatles … More >>
With over half of the eligible population now fully vaccinated and over 80% with at least one dose, we all need to do our part to reach the remaining 20%, COVID-19 Response Minister Chris Hipkins said, “We have a plan and to make it work we are asking everyone to contribute to a great national campaign for immunization … More >>