May 8, 2022 • 7M

Dawn Chorus for Monday May 9

Labor surges ahead of ScoMo 11 days before Australian election after rate hike shock; Australian house prices may fall 25%; Westpac downgrades NZ house price fall to 15%

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Bernard Hickey
The latest daily snapshot of the news, detail, insight and analysis on geo-politics, the global economy, business, markets and the local political economy for citizens and decision-makers of Aotearoa-NZ.
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TLDR: Cost-of-living issues and interest rate hikes continue to upend the political landscapes in various countries. Australia’s Labor Party has just jumped decisively ahead of the governing Liberal/National coalition after a surprise interest rate hike, and the former political wing of a terrorist organisation, Sinn Fein, just won elections in Northern Ireland for the first time on a cost-of-living campaign.

Later today, we expect to hear more about the Government’s Emissions Reduction Plan measures in Budget 2022 due on May 19, with Deputy PM Grant Robertson expected to hold the regular post-Cabinet news conference at 4pm today.

PM Jacinda Ardern is isolating at home and attending by zoom because Clarke Gayford tested positive for Covid over the weekend. A positive test for Ardern near the end of her seven-day isolation could see her miss next week’s Budget and delay her trip to the United States for Harvard’s commencement address.

Clarke Gayford’s positive Covid result may throw Ardern’s plans into disarray. Photo: Lynn Grieveson/TheKaka

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