Rising rural sales a feature of NBNZ regional growth report.

A programme educating businesses before and during the World Cup says it achieved its goals, with companies involved seeing a boost in bookings through to the end of the year.

Growth expectations are rising but inflation is a growing worry, according to prediction market iPredict.

The basis for the Reserve Bank’s relatively mild 50 basis point cut this morning are forecasts for growth over the next two years that are “optimistic” according to senior private sector economists.

The Business New Zealand Economic Conditions Index has dropped to its second lowest level since the index began in 2000, defying efforts at stimulus. 

The index dropped to -11, down nine points on the September quarter and down 16 points on a year ago.

Three of the four sub-indexes are heading downward, the exception being monetary policy, which has benefited from a drop in interest rates and the withering of inflationary pressures.

The new government has killed its first advisory board, and it had the help of the members of the body to do so.

The Growth and Innovation Advisory Board is to be dis-established, the Minister of Economic Development, Gerry Brownlee has decided.

He has written to the 20 members of the board this week thanking them for their services.

The previous Labour-led government set up the GIAB in May 2002.

The board describes its role as "to support the government with the development and implementation of its economic growth strategy."