The Canterbury rebuild is off to the races, while the rest of the economy is not too far behind. Dropping $40 billion on our second largest city is clearly having the growth impact we have long predicted. The next stage to come is spreading inflation pressures, but for now these look contained within Canterbury. This will allow the RBNZ to continue to keep its interest rates guns on safety this week. However, at the same time the RBNZ navy is moving its new LVR cannon into position.
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