31 March 2004 Media Statement

Decline in confidence sobering

Finance Minister Michael Cullen said the latest National Bank Outlook showing a fall in confidence at both the general and the enterprise level was sobering but not surprising given the February floods, the high dollar and ongoing geopolitical concerns.

“The results are consistent with slower growth in the year ahead, a prospect I have been signalling for some while.

“But the slowdown is expected to be modest by past standards and will be mitigated by a supportive policy environment.

“This includes yesterday’s announcements around Reserve Bank foreign exchange intervention and the coming budget which will contribute growth oriented policies and a mild fiscal stimulus,” Dr Cullen said.

ENDS

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Gordon Campbell: On the Sony cyber attack

Given the layers of meta-irony involved, the saga of the Sony cyber attack seemed at the outset more like a snarky European art film than a popcorn entry at the multiplex.

Yet now with (a) President Barack Obama weighing in on the side of artistic freedom and calling for the US to make a ‘proportionate response’quickly followed by (b) North Korea’s entire Internet service going down, and with both these events being followed by (c) Sony deciding to backtrack and release The Interview film that had made it a target for the dastardly North Koreans in the first place, then ay caramba…the whole world will now be watching how this affair pans out. More>>