This morning the Reserve Bank cut the official cash rate as expected from 2.25% to just 2.0%. But because they signalled only one further rate cut whereas the markets were positioned for two the NZ dollar has rallied to near US 73 cents – in spite of the RB again saying it would be good if it fell.

Apart from an explanation of why very low inflation is undesirable I don’t think there is much else unique and interesting in this Week’s Overview worth reading so go back to Pokémon Go if you like.