New Zealand’s Current Account Deficit Source: Statistics NZ (Actual) & Budget 2012 (Forecast)

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Presentation transcript:

New Zealand’s Current Account Deficit Source: Statistics NZ (Actual) & Budget 2012 (Forecast)

Overseas debt: It’s Mainly Private Source: Reserve Bank of New Zealand & Statistics NZ

Poorer every year from here – success? Source: Statistics NZ (Actual) & Budget 2012 (Forecast) After more than 6 years of National it gets worse every year 

NZ vs. Denmark Exports per Capita, 2009, $NZD Other commodities Other manufactured goods Machinery and transport equipment Manufactured goods Chemicals Crude minerals Beverages and Tobacco Food and agriculture NEW ZEALAND DENMARK $9,157 $26,380 $4,644 51% $21,636 83% of total

Free Capital Flow Stable Exchange RateSovereign Monetary Policy (such as ‘Inflation Targeting’) GOLD STANDARD BRETTON WOODS Post-BRETTON WOODS (1985 onwards)

Free Capital Flow Stable Exchange RateSovereign Monetary Policy (such as ‘Inflation Targeting’) New Zealand: 1990: Inflation Targeting given primacy in Monetary Policy X X

Free Capital Flow Stable Exchange RateSovereign Monetary Policy (such as ‘Inflation Targeting’) New Zealand: After 2002: Inflation target becomes a on average ‘range’, secondary objectives and tools added X X