Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Complacency must not be an option

6 December 2007.

Complacency must not be an option.

The New Zealand Manufacturers and Exporters Association, (MEA), says that the RBNZ’s decision to hold the OCR, no change along with hard words, is not an excuse for the Government and the select committee on monetary policy to sidestep the issues driving the two economies outcome in New Zealand.

”Any expectation that things are somehow coming right should not throw a shadow of complacency over the deliberations of the select committee on monetary policy”, says Chief Executive John Walley.

“Although the MPS alluded to cooling house prices, the statement made it clear that the domestic economy continues to push back against higher interest rates and the key message for exporters is that the RBNZ expects interest rates to remain around current levels for a long time”.

“This is a major concern as strong exchange rates continue to damage the tradable sector and our capacity to export”, says Mr. Walley.

“The point in the future when we expect the domestic sector to start cooling and the RBNZ will start to talk about loosening interest rates seems a long way off today. A number of changes, including those which some might see as radical, are desperately needed on the part of the Government to help curb inflationary pressure”.

Mr. Walley says that the MEA will continue to press Government to act decisively in support of the tradable sector because the ‘business as usual’ attitude is what is driving the two economy problem, and therefore cannot be expected to fix it.

“This issues currently before select committee must not be allowed to fade away in the summer haze or some pre-election slight of hand. A “business as usual” answer from the Government or a vanishing act from the select committee will be a disaster for our exporters, and in the longer term, for our entire economy”.

(For further information see MEA Outlook report:

MEA – the authentic and independent voice for manufacturers and exporters.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Onetai Station: Overseas Investment Office Puts Ceol & Muir On Notice

The Overseas Investment Office (OIO) has issued a formal warning to Ceol & Muir and its owners, Argentinian brothers Rafael and Federico Grozovsky, for failing to provide complete and accurate information when they applied to buy Onetai Station in 2013. More>>


Tomorrow, The UN: Feds President Takes Reins At World Farming Body

Federated Farmers president Dr William Rolleston has been appointed acting president of the World Farmers’ Organisation (WFO) at a meeting in Geneva overnight. More>>


I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>


Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>


Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>


Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news