The latest TVNZ Colmar Brunton poll suggests Labour is closing the gap on National with less than a fortnight to go till the General Election in New Zealand.
National dropped 3 percent to 47 percent support in the latest poll while Labour dropped 1 to 35 percent - a gap of 12 percent.
But the real gap closer is the surge in support for the Greens - up 3 to 8 percent (a level mirrored in other recent polls) and the Maori Party, up 1 to 3 percent but the latter has a strong chance of securing most of the 7 Maori electorate seats. The Colmar-Brunton polls assumes the Maori Party will take four of those seats. ACT support was unchanged on 2 percent, while NZ First moved up 1 to 3 percent.
Based on these poll results, and United Future's declaration yesterday that it will support National to form a government after the election, National could govern with 59 seats + 3 ACT + 1 United Future in a 122 seat Parliament.
A Labour-led coalition of 44 seats + 10 Greens + 1 Progressive = 55, would leave Labour needing the 4 or more Maori Party seats and possibly 1 NZ First seat (Winston Peters) but still short of a majority.
But it would take only a swing of 2-3 percent towards Labour and its support parties for a coalition to be possible.
An election on a knife edge, indeed. And one in which overseas Kiwi votes might count more than ever in affecting the result. Soooooooooooo - GET OUT THE VOTE, whoever you decide to vote for!
Showing posts with label ANZ National. Show all posts
Showing posts with label ANZ National. Show all posts
Sunday, October 26, 2008
Reserve Bank Approves Purchase of Mortgage-Backed Securities from Two Banks
The Reserve Bank has agreed to purchase NZ$8.7 billion of residential mortgage-backed securities from the ANZ National and Westpac banks should they require a liquidity injection.
Tightening liquidity in New Zealand does not stem from problems with domestic residential mortgage-backed securities since the problems of US-type sub-prime lending have not been permitted to occur in New Zealand. The problem, however, is in banks re-financing their needs in global financial markets where credit has become extremely tight. The parent companies of the major trading banks in New Zealand, headquartered in Australia, have, however, been writing down bad loans in recent quarters.
In early May this year, the Reserve Bank expanded its lender of last resort facility to trading banks by permitting residential mortgage-backed securities to be posted as collateral in return for Reserve Bank loans.
Tightening liquidity in New Zealand does not stem from problems with domestic residential mortgage-backed securities since the problems of US-type sub-prime lending have not been permitted to occur in New Zealand. The problem, however, is in banks re-financing their needs in global financial markets where credit has become extremely tight. The parent companies of the major trading banks in New Zealand, headquartered in Australia, have, however, been writing down bad loans in recent quarters.
In early May this year, the Reserve Bank expanded its lender of last resort facility to trading banks by permitting residential mortgage-backed securities to be posted as collateral in return for Reserve Bank loans.
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