Bollard has just cut the OCR by 25 points and the dollar has responded.
Any possible benefit to be had by lower interest rates , assuming that the banks are in a position to pass them on ( which I suspect not) has just left town. The two F's - food and fuel - just got more expensive.
Our way of thinking for the last 50 years is stuffed and our standard of living is going down by the day.
The only place to start is to cap and then lower central and local government spending, add a hellava lot more accountability to this spending and give the people more say in the spending of their own money by lowering taxes.
The third F -the $60,000,000,000 FEATHER bed that the government has carefully made for their ultimate benefit is UNSUSTAINABLE.