This year marks 25 years since the Reserve Bank Act 1989 was passed. While it has enjoyed a high degree of cross-party support over that period, the original settlement is unwinding and it is now time for a review. That need not involve throwing the anti-inflation baby out with the bathwater, nor the politicisation of a significant public institution.

Last week was a big week for the Reserve Bank. The Bank’s March Monetary Policy Statement, released on Thursday saw the expected announcement of the decision to move to tighten monetary policy – a 25 base-point increase in the Official Cash Rate. This marks the start of a tightening cycle – one that has been quite openly foreshadowed by the Bank for some time.

Afghanistan suspends security talks with US; North Korea and China hold talks; Edward Snowden would not get preferential treatment if he applied for asylum in Hong Kong, says UN official; Obama to announce sharp reduction in nuclear warheads; IMF says Spain needs labour reform to reduce "unacceptably high" level of unemployment; and more

Top of the Agenda: Afghanistan Suspends U.S. Talks

Auckland's first-ever beneficiary 'impact' demonstrates poverty of policies as well as of people 

Almost unnoticed in the rush to Christmas, the first ever beneficiary ‘impact’ to be held in Auckland has been taking place this week at Onehunga’s Work & Income office.

If National is going to keep shining up shit and calling it gold, then I am going to keep exposing it as shit.

National’s latest foray into creatively interpreting statistics to make itself look good is about employment. As the chart below illustrates, the unemployment rate is at its highest level in about the last ten years, and normally we would say this means we aren't doing much good in managing the economy so that people have jobs.


California has never been in bigger fiscal trouble. So who do voters choose as their new governor? Jerry Brown, aka 'Governor Moonbeam', the budget-conscious pol who was their governor 28 years ago

The first time Jerry Brown led California, from 1975 to 1983, he was the state's youngest-ever governor, a playboy bachelor who dated singer Linda Ronstadt and ditched the gubernatorial limo for a 1974 Plymouth Satellite.