The Reserve Bank today raised the Official Cash Rate by 0.25% to 5.75%, in an effort to ward off any 'inflation shock' caused by the booming housing market and increased consumer spending. Some have criticised the move, however, arguing Reserve Bank Governor Dr Alan Bollard has over-reacted.voxpop (citizens); Dr Alan Bollard (Governor of the Reserve Bank); Brendon O'Donovan (Westpac Bank economist).
National's sole Maori MP, Georgina Te Heu Heu, has hinted she might be willing to join the new Maori Party. Georgina Te Heu Heu (National MP); Gerry Brownlee (National Deputy-Leader).
The methamphetamine/P lab discovered in Fiji yesterday has been linked to an Asian crime syndicate. Tony O'Conner (Fijian Customs); Andrew Hughes (Fijian Police Commissioner); Det. Supt. Larry Reid (Acting National Crime Manager, NZ Police).
Former Midnight Oil frontman Peter Garrett has confirmed he will stand as the Australian Labor Party's candidate in one of its safest seats in Sydney. Critics allege Garret has not voted for at least ten years. Peter Garrett (Labor Party candidate); Mark Latham (Labor Party leader); Dominic Sullivan (hopeful candidate); John Howard (Australian PM).
The body of former US President Ronald Reagan has returned to Washington to lie in state. voxpop (US citizens); Dick Cheney (US Vice-President).
At the G-8 Summit in Sea Island, Georgia, the US and Britain have called on NATO to play a bigger role in post-war Iraq. However, French President Jacques Chirac strongly opposes moves to involve NATO troops. Tony Blair (British PM); Jacques Chirac (French President).
At Government House, a new book has been launched by the lobby group Philanthropy New Zealand. The book, A Toolkit for Giving,has been published to provide advice on how to go about giving to charity and to celebrate and raise awareness of philanthropy. Darcelle Haami (student); Susan Baragawanath (Director of charity He Huarahi); Robyn Scott (Robyn Scott); Sir Roy MacKenzie (philanthropist).