Newsable

As widely predicted, the Reserve Bank has cut the official cash rate by 50 basis points to 3.75%, the lowest level in two years.

RBNZ Governor Adrian Orr held a press conference following the decision, stating that the cut reflects the ongoing decline in inflation and their confidence that this trend will continue.

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Prime Minister Christopher Luxon and Conservation Minister Tama Potaka have announced that $30 million from the International Visitor Conservation and Tourism Levy will fund over a dozen projects aimed at boosting tourism and biodiversity. $11 million will go toward managing infrastructure at some of New Zealand's most popular visitor sites, while $19 million will go into protecting biodiversity by reducing the spread of invasive species.

The announcement was made at the regular post-Cabinet press conference, where the Prime Minister was also questioned about the recent Destiny Church protests. He said he thought the protesters crossed the line, and that it was "not the Kiwi way." Luxon also said that the Government would consider reviewing the church's charitable status "in due course".

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Prime Minister Christopher Luxon and Infrastructure Minister Chris Bishop have announced that the Government will host an international investment summit for around 100 high-profile investors, business leaders, and construction companies from around the world. The summit will be held on March 13 and 14, and aims to "highlight partnership opportunities for overseas investment".

Following the announcement, Luxon faced questions from the media about ACT Party leader David Seymour driving a Land Rover up the steps of Parliament, to which he responded "I'm not interested in those political sideshows".

He was also questioned about Seymours letter in support of Philip Polkinghorne, and the Cook Islands - China deal.

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Despite being asked to stay away, ACT party leader David Seymour has spoken at Waitangi.

As Seymour began to speak, men on the paepae stood then turned their backs on him. His microphone was then taken by Aperahama Edwards. He was given a new one, which was taken again.

*Audio has been left as it was live, with the gaps in David Seymours speech due to his microphone being taken away.*

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Housing Minister Chris Bishop has released Kāinga Ora’s “turnaround plan”, which he says will refocus the housing agency on its core purpose of being a “good social landlord” and help it build new homes at market rate or cheaper.

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Prime Minister Christopher Luxon and Transport Minister Chris Bishop have announced a total of 38 sections of the state highway network will have their higher speed limits reversed back to their previous levels. The reversals will be completed by July 1st, with State Highway 2 between Featherston and Masterton in the Wairarapa the first section to have its limit increased again.

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ACT Party leader David Seymour has given his State of the Nation speech, saying New Zealand needs to move past the “squeamishness” of privatisation and have more honest conversations about what the government spends, owns, and regulates.

He raised the issues of asset sales, questioning whether New Zealand was making the best use of the Government’s $0.5 trillion plus worth of assets, and allowing people to opt out of public healthcare, suggesting people could get better value for their healthcare if that money went to individuals' own private insurance.

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Prime Minister Christopher Luxon has given the annual State of the Nation address while speaking to the Auckland Chamber of Commerce.

He began by saying his speech will focus on the economy and "almost nothing else". He was true to his word, using the speech to take aim at New Zealand's “culture of saying no”, saying it held back economic growth.

Luxon went on to announce the government is setting up a new foreign investment agency, called Invest New Zealand, aimed at boosting productivity and innovation.

He also announced major reform to Crown Research Institutes, including transferring them into four new Public Research Organisations to be focused on bio-economy, earth sciences, health and forensic sciences, and AI and other advanced technologies.

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Donald Trump has been sworn in as US president for the second time.

The 47th president delivered his inauguration speech from inside the US Capitol where he outlined his immediate priorities whilst also criticising the previous Biden administration.

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Outgoing US President Joe Biden has given his farewell speech to the American people from the Oval Office.

As well as hailing his administrations accomplishments over the past four years, he also warned of a “dangerous concentration of power”, saying an “oligarchy” of ultra-wealthy is “taking shape in America”.

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