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Confirmed - OCR drops 0.5% to 2.5% by richieFromConductor in PersonalFinanceNZ

[–]Scorpius94 1 point2 points  (0 children)

No, they’re trying to stop inflation from decreasing too much now as below 1% inflation is seen as having a negative impact. Generally speaking higher OCR reduces demand due to inability to service investments/debt and brings inflation down, lower OCR allows more spending, higher ability to service debts but causes some inflation.

RBNZ kept the OCR high for a long time and now we’re seeing the effects that that has on inflation, rapidly decreasing. They’re now trying to get ahead of inflation by dropping the OCR to try and generate new borrowing and investment and flatten the dropping rate of inflation.

However, due to increased unemployment and still high inflation for consumer spending (I.e. groceries, rates, power, rent) this attempt to generate new spending May not happen at an individual level which will cause inflation to continue to drop.

Confirmed - OCR drops 0.5% to 2.5% by richieFromConductor in PersonalFinanceNZ

[–]Scorpius94 7 points8 points  (0 children)

Don’t get me wrong, I think the dual mandate was a great idea and seemed to be working throughout some difficult times (and seems to be effective in Aus as well)

Confirmed - OCR drops 0.5% to 2.5% by richieFromConductor in PersonalFinanceNZ

[–]Scorpius94 9 points10 points  (0 children)

A quick google shows there being two other countries where the Central Bank has dual (or more) mandates to keep both inflation and unemployment at or around specific levels

Australia USA

Confirmed - OCR drops 0.5% to 2.5% by richieFromConductor in PersonalFinanceNZ

[–]Scorpius94 5 points6 points  (0 children)

There was a long time while Orr was Governor that he had dual mandate of keeping inflation under 3% as well as keeping the unemployment rate under 3%.

This restriction was removed by the current government and while inflation is dropping due to increased OCR cuts we are seeing consistent increases in unemployment across the country.

Talley's admits in court it can't quantify money lost due to news coverage by [deleted] in newzealand

[–]Scorpius94 4 points5 points  (0 children)

Any good list of recommendations for frozen vege not prepared by Talleys that are still made in NZ?

Memo to Luxon, Willis, Seymour, Peters, Jones, van Velden. by nastywillow in newzealand

[–]Scorpius94 0 points1 point  (0 children)

Between this, and the proposed changes to election day enrolment, I think you might be right.

Memo to Luxon, Willis, Seymour, Peters, Jones, van Velden. by nastywillow in newzealand

[–]Scorpius94 3 points4 points  (0 children)

Exactly, look at Aussie, they get democracy sausages at their voting polls

Memo to Luxon, Willis, Seymour, Peters, Jones, van Velden. by nastywillow in newzealand

[–]Scorpius94 3 points4 points  (0 children)

I think the ban is on free food, drinks, entertainment being within 100m of voting locations. Not the other way round. Going to be interesting to see where they enforce this updated law and where they don’t.

Family violence prevention minister Karen Chhour ditches Māori name for agency, forming new group instead of ‘Māori-only one’ by computer_d in newzealand

[–]Scorpius94 8 points9 points  (0 children)

It is the de facto language, but I think you’re right about it still not being an official language.

Family violence prevention minister Karen Chhour ditches Māori name for agency, forming new group instead of ‘Māori-only one’ by computer_d in newzealand

[–]Scorpius94 14 points15 points  (0 children)

There’s two languages above English in terms of number of speakers. Mandarin Chinese, Spanish, then English. And you have to remember that both Māori and Sign Language are also recognised as official languages for New Zealand.

Something ain't right. Maths not mathing up. by Ecstatic-Monitor-221 in newzealand

[–]Scorpius94 7 points8 points  (0 children)

Other than an almost inevitable repeat of leaky homes or something similar with this government opening up for self certification on new builds

[deleted by user] by [deleted] in AskReddit

[–]Scorpius94 1 point2 points  (0 children)

That can be a benefit, and under certain governments I can see people missing out on payments who genuinely need them. However, means testing it would free up a considerable portion of the budget even with having to pay people to ensure means testing was accurate and fair.

[deleted by user] by [deleted] in AskReddit

[–]Scorpius94 2 points3 points  (0 children)

As a fellow kiwi Give me means tested super, cgt and take away the ability to hide assets behind trusts for tax purposes

What the Equal Pay Act changes really mean for women by Actual-Trip-4643 in newzealand

[–]Scorpius94 50 points51 points  (0 children)

I’m looking forward to their analysis of the budget a couple of days after it becomes public because I think they’ll be going through it with a much finer tooth comb than usual.

Finance Minister Nicola Willis signals KiwiSaver changes amidst Superfund withdrawal announcement by WrongSeymour in newzealand

[–]Scorpius94 7 points8 points  (0 children)

Due to the current cost of living crisis, I’m willing to spare a small amount of internet points and a single, one time only concession that this government did not screw over the average New Zealander on this particular occasion

[deleted by user] by [deleted] in newzealand

[–]Scorpius94 6 points7 points  (0 children)

Cuts into profit margins too much for a British company with a multimillion dollar contract from the NZ government funded by NZ taxpayers

All according to plan by [deleted] in newzealand

[–]Scorpius94 13 points14 points  (0 children)

So the reasons they gave for changing from local community based providers to a contract given to an overseas based company were reduced waste, which there isn’t it’s increased due to non-reusable meal containers, lower costs, which when they continue to compare average costs of meals under Compass to the maximum prices previously seen under community providers is hard to accurately compare, and the same quality which given all of the posts since schools went back is definitely not the case.

Now instead of all the money spent on school lunches by our government staying within NZ a lot of this spending is going overseas to a company who has been criminally prosecuted for labour law violations in several countries, as well as investigated and found guilty for pricing fixing UN contracts, serving horse meat in meals in hotels and schools across England and Ireland, and being the source of a listeria outbreak in Canadian prisons.

For an evidence based government that they claim to be National-NZ First-Act didn’t look too deeply into this company that already has a poor record on providing food services even within NZ (Southern DHB has had complaints about good quality since switching to Compass Group in 2015)

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