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More cuts need to lift confidence: Macquarie
Thursday 14th of August 2008
By its estimates $5.4 billion, or 7% of New Zealanders' disposable household income has been affected by the finance company meltdown. In a research note Macquarie says this cocktail would be an even more potent mix if it extended to foreign investors, given the country's reliance on offshore funding.
"The best way to resolve this situation would be to ensure that growth does not slide to...
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