90 at 9: Bollard doesn't mind the gap; Economy 'fragile'; Australian guarantee lifted

Bernard Hickey details the key news over the weekend in 90 seconds at 9am, including news Reserve Bank Governor Alan Bollard has told TVNZ it's unrealistic for New Zealand to think it can match Australia's incomes and we should be content with the crumbs that fall off Australia's table. Australia's mineral wealth gives it some natural advantages we can't match, Bollard said.

He also said the New Zealand economy remained fragile and the housing market was spongy, meaning rates would stay on hold until the middle of the year, in line with previous statements.

Meanwhile, the Australian Government announced it would remove its wholesale deposit guarantee for banks from end of March, the Sydney Morning Herald reported. Bill English told NZPA that New Zealand was also considering lifting the wholesale guarantee.

The Dow wobbled late on Friday after weak US jobs figures.

Category:

News & Politics

Tags:

• Alan Bollard
• BNZ
• Bernard Hickey
• 90 at 9
• Reserve Bank Governor
• TVNZ