OCR on hold at 0.25 pc - Reserve Bank still prepared to cut if required
14 Apr, 2021 02:00 AM
2 minutes to read
Reserve Bank Governor Adrian Orr. Photo / Mark Mitchell
The Reserve Bank has left the official cash rate on hold at 0.25 per cent and said it is still prepared to go lower if required.
In a Monetary Policy Review today Reserve Bank Governor Adrian Orr said the global economic outlook had continued to improve since February. However, economic uncertainty remains elevated and divergences in economic growth both within and between countries are significant, he said.
New Zealand s commodity export prices continued to benefit from robust global demand.
Breaking free of Brussels bureaucracy was meant to herald a bonfire of red tape for Britain. In the first 100 days of Brexit, the only thing many businesses burned was money.
Customs checks, paperwork and border delays since the U.K. completed its withdrawal from the European Union at the start of the year are sucking cash and time out of firms from big-name retailers to small family-owned businesses. Companies, which warned for years that this would happen, take no pleasure in saying “we told you so,” but the frustration is clear as they grapple with the long-term reality.
For many businesses on tight margins, every pound spent on documentation means less for wages, hiring and investment. While the impact will be far less dramatic than the short-term shock of the Covid-19 lockdowns, over time it will add up, hobbling the economy and eating into sales, earnings and incomes.
Steve Daines: Outrageous States Handing Illegal Aliens Cash While Millions Unemployed
Sen. Steve Daines (R-MT) said in a statement Monday that it is outrageous that states continue to hand illegal immigrants cash payments while millions of Americans are unemployed; he said he will introduce legislation to address this concern.
Daines announced he will soon introduce legislation to stop federal taxpayer dollars from going to states that make direct or indirect payments to illegal immigrants. Daines announced the legislation after news reports found that New York created a $2.1 billion fund to provide illegal immigrants payments, which could then be covered by the Democrats $1.9 trillion coronavirus package.
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