So many big promises, so little money in the bank

If around 50% of house purchases above $2m are to foreign buyers, you'll see a ripple effect through the economy. (Image: Getty)

Cameron Bagrie

Sat, 23 Sep 2023

The Reserve Bank of New Zealand might need to send a strong message in the upcoming official cash rate review.if it fails to deliver on tight fiscal policy, interest rates will go up. Of course, other factors could come into play, but the Reserve Bank of NZ (RBNZ) is banking on a tight fiscal stance to help battle inflation. That “bank” has politicians controlling it and an easy-to-access vault.A tight fiscal stance is, in effect, the government taking more money out of the economy than it puts back in. Deficits turn into surpluses....

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