Latest news with #Tuffley
1News
09-07-2025
- Business
- 1News
Pause now, cut later? Inflation uncertainty likely to guide OCR decision
The Reserve Bank is widely tipped to leave the Official Cash Rate (OCR) unchanged at 3.25% later today, signalling a pause after six consecutive cuts. Economists caution that a rate cut may be warranted — but the Monetary Policy Committee is likely to wait for clearer inflation signals before it makes a move. ANZ chief economist Sharon Zollner said the bank should cut rates this week based on the data but she believed the committee would decide to wait for more data on inflation before making its next move. "The decision is far from simple and, at 20%, we think the market is very much underestimating the chance of a cut." Zollner said the "fly in the ointment" was lingering concern that inflation could be more persistent than forecast. ADVERTISEMENT ANZ was forecasting three more 25bp cuts — starting in August and continuing in November and February —bringing the OCR down to 2.50%. However, Zollner noted the February cut was less certain. "We don't have sufficient confidence that 'she'll be right' to take that cut out of our forecasts at this juncture, but we freely describe it as pencilled in." The morning's headlines in 90 seconds, including Australian doctor speaks about first meeting with Erin Patterson, why Donald Trump's swearing about Vladimir Putin, and how science could bring the moa back. (Source: 1News) ASB chief economist Nick Tuffley said the bank thought the Reserve Bank would hold the OCR following six consecutive cuts. "With the OCR near estimates of neutral levels and with inflation towards the top of the 1-3% inflation target, the threshold to delivering further OCR cuts has likely risen." The short-term inflation spike looked higher than forecast, and Tuffley said the central bank would need to be confident that this did not risk stoking inflation expectations. "Everchanging global and geopolitical developments complicate disentangling its impacts on the New Zealand economy. Because of this, there are a variety of monetary policy paths over 2025 that are conceivable to us." ADVERTISEMENT Tuffley said he believed a "cautious, data and event dependent" Reserve Bank would move the OCR to 3.0% by August. Infometrics principal economist Brad Olsen also supported a hold, saying a rate cut was likely later in the year but that now was not the time to move. "We think that this is the time to take a bit of a pause. There's just a lot of uncertainty out there in the economy." Olsen said food and energy prices continued to weigh heavily on household budgets and that current inflation pressures were "uncomfortable and very real". He expected only one cut this year, taking the OCR to 3.0%, but said global volatility could shift the timing. "The wild card at the moment is what the US does with its tariffs." The Reserve Bank would be releasing its latest review of the official cash rate at 2pm.
Herald Sun
27-06-2025
- Herald Sun
Kylie Lang on why social media has made the world a worse place
Remember when the sneakiest thing you could do on social media was to use a filter to enhance a photo and not tell anyone? Bung on a bit of Clarendon, Juno or Valencia and make your images pop. Then it became cool, even though some people clearly cheated, to use the hashtag #nofilter – as if you were really a closet photographic genius. Ah, Instagram, how tame you were back in the day – 2010, that is, a mere 15 years ago. Now, as social media platforms have multiplied so has the deceit they allow people to portray as true. And I'm talking about more than the 'look-at-me-and-my-fabulous-life-bet-you're-jealous' posts. Social media has become sinister and the minds of users have become sicker. You might say it's chicken and egg stuff – which came first? – but I'd wager that anti-social behaviour of the chronic kind we've been seeing recently is a direct result of these unregulated online platforms. The greed of profit-ravenous tech giants has decimated human decency. Bullying like never before, revenge porn, deepfake nudes and the online abuse of children including by other children are bordering on commonplace. But as those of us who recall life before social media rightly demand better responses – from our schools, our parents, our politicians and critically the tech behemoths – there is another degree of moral corruption going on. Let me give you two examples. When a young man allegedly brutally attacked a middle-aged bus driver last Friday evening at Brisbane's South Bank station, passengers were eager to film it. The distressing footage was then uploaded to social media. Did no passenger think to immediately go to the driver's aid? Why was their first thought, where's my phone? The lure of a twisted type of fame on social media is strong. We see it also when students are brawling on school grounds. Rather than break up fights, onlookers are hanging back and filming them. They're getting kicks out of another's suffering and using it to boost their social media engagement. Now to the case of a Queensland mother accused of torturing her baby for social media kudos. The 34-year-old was charged in January over allegedly drugging her infant to get clicks and money from the content she posted on TikTok. As if those allegations aren't horrendous enough, this week The Courier-Mail revealed a number of people have created copycat social media accounts. The fake accounts use the family's name and previously posted images and videos. Pathetic? You bet. David Tuffley, who lectures in applied ethics and cyber security at Griffith University, says there is 'a thriving black market' for TikTok accounts. The aim of these fakes, Dr Tuffley says, is to attract followers then monetise the accounts through advertising, soliciting donations or selling them on the black market. Staggering to think from October to December last year, TikTok stopped more than 10.47 billion fake likes on its content due to inauthentic engagement and fake accounts activity, according to Statista data. Stan Karanasios, a professor in information systems at the UQ Business School, says there is no way of knowing how many fake accounts exist but the motive is to 'piggyback' on a person's legitimacy to 'lure people into believing you are trustworthy and (to) engage in scams and malicious activities'. What a world we live in. I wish we could shut down social media and make phones dumb again. I wish TV shows like SeaChange and Seinfeld were being seen for the first time. I wish people would escape to the country and not whine about the Wi-Fi. But just as we can't turn back time, we have to be present to what's happening now. We cannot let ourselves be conditioned to accept heinous behaviour as the new norm simply because of the prevalence of it online. There are many education programs around social media use, positive parenting in the digital age and how to keep yourself safe online – but they are not enough. Until tech giants are properly held to account, people will continue to be pawns. Kylie Lang is Associate Editor of The Courier-Mail Originally published as Kylie Lang on why social media has made the world a worse place
Scoop
17-06-2025
- Business
- Scoop
Rural Resurgence Powers South Island Into Lead In ASB's Latest Regional Economic Scoreboard
Canterbury in top spot for Q1 2025 South Island still proving more robust than the North Trouble in the Capital: Wellington remains in 15th place Strong commodity prices and soaring food and fibre exports have helped power the South Island to a strong start to 2025, with Canterbury, West Coast, Otago and Marlborough in the top four spots of ASB's Regional Economic Scoreboard for Q1. Canterbury has kicked off 2025 on a high, securing first place off the back of a broad-based recovery across retail, housing and consumer confidence. 'The scoreboard is reflecting what many in the regions already know - rural New Zealand is doing the heavy lifting right now,' says Chief Economist Nick Tuffley. 'South Island regions are benefiting from strong commodity tailwinds and resilient export demand, especially across dairy, meat, forestry and horticulture.' The rural-led momentum comes as the Government forecasts record-breaking export earnings for New Zealand's food and fibre sector, which are expected to rise 12% to $54.6 billion in the year ahead. Fieldays 2025 has put a national spotlight on the sector's strength, with farmers, growers, fishers and foresters driving a powerful export rebound. According to Tuffley, 'We're seeing the impact of that performance filter through to local economies, particularly in regions like the West Coast, which has posted its best result in four years, and Canterbury, where rural strength is boosting confidence across the board.' The West Coast made a remarkable leap into second place, thanks to robust construction activity and a rebound in retail sales. Meanwhile, Otago slipped to third, ending its long streak of scoreboard wins, despite Queenstown's ongoing tourism strength. In contrast, Wellington ranked 15th for the third consecutive quarter, with Auckland in 10th place. While inflation is easing and interest rates have been cut, households are still feeling the squeeze. 'It's clear that the rural and urban economies seem to be moving at different speeds across the country,' says Tuffley. 'It's regional New Zealand, particularly the food and fibre sector, that's doing the hard work of pulling the national economy forward. Meanwhile, places like Wellington continue to face a range of challenges including employment, construction and consumer confidence.' Looking ahead, ASB sees early signs of recovery emerging across the country, aided by the Reserve Bank's 225 basis points of OCR cuts to date. However, global uncertainty continues to cast a shadow over the pace and strength of that recovery. The full ASB Regional Economic Scoreboard, along with other recent ASB reports covering a range of commentary, can be accessed at our ASB Economic Insights page: @ASBBank @ASBMarkets About the ASB Regional Economic Scoreboard The NZ Regional Economic Scoreboard takes the latest quarterly regional statistics and ranks the economic performance of New Zealand's 16 Regional Council areas. The fastest growing regions gain the highest ratings, and a good performance by the national economy raises the ratings of all regions. Ratings are updated every three months, and are based on 8 measures, including population, employment, retail trade, house prices, house sales, construction, consumer confidence, and new car registration. ASB Bank Helping you get one step ahead. In 1847, ASB opened as the Auckland Savings Bank with the pledge: 'to serve the community; to grow and to help Kiwis grow'. And that is very much what ASB is about today. ASB is a leading provider of integrated financial services in New Zealand including retail, business and rural banking, funds management and insurance. ASB strives to consistently provide its customers with outstanding service and innovative financial solutions. They're dedicated to providing simple financial products that allow their customers to bank with them how and when they want. We all have our own ways to measure progress, and our own stories about the things that matter to us. Whatever way you choose to measure progress, and whatever your goals, ASB is there to help you get one step ahead.
ABC News
06-05-2025
- ABC News
Police clock teen e-bike riders going 120kph on Gold Coast Highway
Police say they have clocked two teenagers going 120kph on an e-bike on the Gold Coast, but they have not been charged. The boys, 16 and 17, were allegedly spotted on an electric dirt bike on Sundale Bridge in Southport at 1am on Saturday while doing wheelstands and riding erratically. With the police helicopter watching overhead, officers did not stop the bike until it ran out of battery and they moved in. A Queensland police spokesperson said no formal charges had been laid against either teenager, but investigations were continuing. "Officers continue to review all available vision to establish who committed the alleged offences," the spokesperson said in a statement. Gold Coast police officer Jason Tuffley said the kind of bike used by the pair could not be registered. Queensland Police Service (QPS) says e-bikes are becoming increasingly problematic. ( ABC News ) "They can reach incredible speeds, however they're not registered and riders don't have a licence to operate them on the road," Acting Superintendent Tuffley said. " They are for all intents and purposes a trail bike. " Urgent need for parliamentary inquiry The Queensland government last week announced a parliamentary inquiry into the use of e-scoters and e-bikes to improve safety and address community concerns about their rise in popularity. A similar inquiry in New South Wales earlier this year found Eight Queenslanders died in e-bike and e-scooter incidents last year. Injuries associated with their use have skyrocketed in recent years. Superintendent Tuffley said Queensland's inquiry was urgently needed as police were doing all they could to deal with a rapid rise in the number of e-vehicles. He said it was a complex issue. "The riders are typically juveniles who are not licensed or qualified to travel at that speed on the roads," he said. "And it is not in police or community interest to pursue a juvenile operating one of these vehicles. "The problems are only going to increase if it's not addressed." Technological approach Gold Coast Mayor Tom Tate said he was disappointed e-bike riders continued to flout road rules. He said it appeared police and lawmakers were fighting a losing battle with existing legislation and it was time for a technological approach. "We should insist on every single e-bike having speed control, meaning that when they hit certain areas there's a maximum speed they can go," Councillor Tate said. Tom Tate wants e-bikes to be speed-limited in some areas of the Gold Coast. ( ABC Gold Coast: Steve Keen ) "It might be that together with the state government that in certain areas the maximum speed is 20 kilometres per hour and when they [e-bike riders] get into that zone the speed comes straight down. " That's the sort of technology we've got to do because to put other legislation in, they [e-bike riders] will just keep going. " He said e-bike riders were "taking their life in their hands" when riding at high speeds and suggested introducing riders to crash and trauma victims as part of an education program. "That, and an advertising campaign — a shock one — that has a truthful, shocking attitude that shows you're not just going to harm yourself, but you're going to harm other people too," Cr Tate said.
Yahoo
16-03-2025
- Business
- Yahoo
Companies join forces to raise $1.5 billion for Amazon protection: 'The difference between success and failure'
Two of the largest environmental nonprofits and a carbon market project developer have collaborated to launch a conservation initiative that will help preserve the Amazon rainforest. Silvania, a $500 million nature and biodiversity investment vehicle backed by Swiss trading company Mercuria, initiated its first major campaign in conjunction with Conservation International and The Nature Conservancy, and it's called the Race to Belém. It was announced in late January during the World Economic Forum's annual meeting in Davos and hopes to raise $1.5 billion from the private sector ahead of COP30 in Belém, Brazil, in November. According to a news release, the Race to Belém will work with "Indigenous peoples, local and traditional communities, farmers, as well as state and federal government to reduce deforestation at scale." It will sell jurisdictional reducing emissions from deforestation and forest degradation in developing countries, or JREDD+, credits. The Brazilian state of Tocantins has already established a JREDD+ program and will be the first to scale thanks to the Race to Belém. Additionally, Silvania has committed up to $100 million to jump-start the program by matching every tonne purchased by a Brazilian state with a dollar in upfront capital. The initiative will deploy the capital immediately and roll out additional phases over the next three to five years. Race to Belém CEO Keith Tuffley told Reuters that prices for the carbon credits will be negotiated with prospective investors, leading to potentially hundreds of millions of tonnes in carbon savings. "The consensus is that private sector engagement is now more critical than ever. The urgency to address climate challenges has only increased, and the Race to Belém highlights this by calling for transformative private investments," Tuffley said. Though the legitimacy of carbon markets has been questioned, their goal is to allow companies or individuals to purchase carbon credits from entities that will offset their planet-warming gas production by reducing, sequestering, and avoiding pollution. Do you think America does a good job of protecting its natural beauty? Definitely Only in some areas No way I'm not sure Click your choice to see results and speak your mind. The Amazon is one of the most vital ecosystems in the world, harboring 30% of Earth's species and holding 20% of all freshwater. It also acts as a carbon sink for the planet and is a source of many foods and pharmaceuticals. However, deforestation has destroyed over 54.2 million hectares in the last two decades, and continued degradation could result in severe repercussions both regionally and globally. While the Amazon has a long road to recovery, restoration efforts by government officials and researchers have helped mitigate the years of abuse the rainforest has suffered. "High-integrity jurisdictional credits offer a foundational tool for flipping the economic script at the scale we need, providing critical resources for Indigenous peoples and local communities who steward these lands," Conservation International CEO M. Sanjayan said. "We have 10 months until we unite in the heart of the Amazon at a defining moment for people and the planet, and upfront capital will be the difference between success and failure," The Nature Conservancy CEO Jennifer Morris added. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
