The quarter that never comes

Christopher Luxon has publicly expressed frustration at the pace of interest rate reductions. (Image: BusinessDesk)

Mon, 01 Sep 2025

“Nothing to be done,” says Estragon in Samuel Beckett’s play Waiting for Godot. “I’m beginning to come around to that opinion,” his companion, Vladimir, replies. It could just as well be a transcript from a press conference about the economy these days.The “Godot” we await is not a person but a checklist: lower interest rates, higher house prices and a recovery that always seems to start next quarter.Drifting plotMeanwhile, the audience grows restless at a set-up that never quite gets re...

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