Orr, Jones and friends seem to think that the economy needs jump-starting. Maybe it does…let’s look at the facts.
When the Great Financial Crisis hit in 2008, the RBNZ dropped the OCR by 6%. If something happened today, they only have 1.5% to work with.
A jittery response just now from the RBNZ. I’m surprised. I thought we were further from the cliff; on more solid ground.