Friday, June 20, 2008

95,000 jobs will go, says Berl

New Zealand's inflation-targeting policy will cost 95,000 jobs during the next three years, independent economic researcher Berl said today. (The Reserve Bank of New Zealand has a "target band" of 1-3-percent for inflation.)

Acknowledging the figure was based on a "cursory analysis", Berl said it would be the equivalent of about $7.4 billion of gross domestic product.

Berl is predicting economic growth of 1.6 percent in the year to March 2009, 2.7 percent in the year to March 2010, and 3.1 percent in the following March year.

Personally, I think any such predictions in today's volatile world are worthless.


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