this post was submitted on 21 Mar 2024
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New Zealand economy shrinks, country in technical recession (www.newshub.co.nz)
submitted 7 months ago by BalpeenHammer@lemmy.nz to c/newzealand@lemmy.nz
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Anybody who thinks the best way out of a recession is austerity measures needs to have their heads examined.

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[–] HappycamperNZ@lemmy.world 1 points 7 months ago

Pushing down GDP, including to negative, by increasing interest rates is literally the mechanism used to combat inflation.

We are coming off massive inflation and resulting cost of living increases due to covid and global pressures - no one who has even a basic understanding of GDP and inflation sees a problem with this.