Reviving Christchurch is a job for Government, not Alan Bollard.

An ASB Bank economist says she expects Reserve Bank governor Alan Bollard to cut the official cash rate by 50 basis points to 2.5 per cent in part due to the economic impact of the Christchurch earthquake.

Foreign investors boosted their share of government debt on issue last month to just shy of $28b, as the Crown borrows $300m a week to maintain its spending programme.

Equities in Europe and on Wall Street rallied after Portugal's successful bond sale eased concerns about the euro-zone's debt crisis.

If the good news is that the Reserve Bank expects rates to be lower for longer, the bad news is why it thinks that.

Central bankers would like to be able to get back to business as usual.

New Zealand has one of the lowest GST rates in the OECD, despite households now being charged at a higher rate than before.

The Government is claiming credit for low price rises, saying people have more money in their pockets on the back on low inflation and increasing wages.

Latest inflation stats show a 1.1pc rise in the CPI for the September quarter, which means an annual inflation rate of 1.5pc.

New Zealand probably recorded the tamest inflation in a decade in the third quarter, helped by a tepid economy and a rapidly appreciating currency.

The New Zealand dollar fell from a 10-month high as a pick-up in American housing data polished the appeal of the beaten-down greenback.