Stay tuned

Article Abstract:

New Zealand's economic boom seems to be slowing after a year of 6.2% growth in the gross domestic product, to an expected 3.8% in 1995. Inflation threatens to swell from 2.8% in 1994 to 4% in 1995, and other leading indicators have impelled the central bank to raise interest rates sharply. Both consumer confidence and business opinion are less positive than earlier in the year. Unemployment has fallen to 7.8%, and housing prices rose 12% in the six months ending in June. The govt expects a surplus of NZ$2.3 billion.

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In brash we trust

Article Abstract:

New Zealand Reserve Bank governor Donald Brash retains the faith of analysts and the market despite raising rates too late in 1994 to keep inflation below the required 2%. While headline inflation soared to 4.6%, however, underlying inflation only reached 2.2%, and should hover near there through 1995. The rise was triggered by stronger-than-expected GDP growth, still at 6.0% in the year to March. Through June, imports rose 16% and exports 5.5%, perhaps reflecting the NZ dollar's growing relative strength.

Inflation (Finance), Inflation (Economics)

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Political pressures

Article Abstract:

The government of New Zealand brought its budget into surplus in 1994 following two years in the red, and the surplus stood at 3.3 billion New Zealand dollars in the year to June 1996. Now, however, the New Zealand First party of the coalition government, has plans for social spending and tax cuts. The surpluses are being affected by extra spending and a slowing of the economy and the coalition has widened the Reserve Bank's inflation target.

Economics, Research and Development in the Social Sciences and Humanities

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