Inflation-taming: the costs are becoming more visible

Double act: how the Reserve Bank and the government behave to one another's signals is crucial. (Image: Getty)

Fri, 19 Aug 2022

Higher interest rates and preparedness to get on with the job by lifting rates at pace were the big takeaways from yesterday’s Reserve Bank of New Zealand (RBNZ) monetary policy statement. Here are some other titbits:A close shaveThe RBNZ forecasts are as close to a technical recession as you can get without explicitly putting it in the numbers. Expect others to follow that lead.Real growth in the gross domestic product in the middle of 2023 over two quarters is 0.1%, barely positive.Annual growth over 2023 is 0.7% and 0.5% to March...

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