But be quick to assess what worked and what did not.ДЄnyway, I'll deal with what's in front of us now, which is an interest rate hiking cycle the likes of which we have not seen in New Zealand - certainly not in the modern era of inflation targeting. There's plenty that needs to be discussed there for when we face such a crisis as this pandemic again. So the economic engine started running hot.

I'm going to focus here on phase two of the experiment, which is the current Official Cash Rate hiking cycle.Д«ut as phase one has done a lot to make phase two necessary, I will just say again that I hope there will be thorough reviews of what was done and its impact.ДЄs I've touched on previously, I think much of the problem - with the benefit of hindsight - was that the stimulus was continued and added to after the initial measures, and there was seemingly no quick way of assessing that it had done 'the trick' and that the stimulatory monetary conditions needed to be removed. Money printing if you will, although that's again an expression the RBNZ would not enjoy. Learn more.There's been two phases, the first being the 2020-21 QE (quantitative easing) response to the onset of the pandemic. Ryerson Reference Number 1922.4856 IIIF Manifest The International Image Interoperability Framework (IIIF) represents a set of open standards that enables rich access to digital media from libraries, archives, museums, and other cultural institutions around the world. 2 cm 3.90 g Credit Line Gift of Martin A. Status On View, Gallery 153 Department Arts of the Ancient Mediterranean and Byzantium Culture Ancient Roman Title Denarius (Coin) Portraying Emperor Augustus Place Spain (Object made in) Date 19 BCEвЂ“18 BCE Medium Silver Inscriptions Obverse: CAESAR AVGVSTVS Augustus (reigned 27 BCвЂ“AD 14), was the first Roman emperor and dictated that he retain his youthful appearance in his portraits throughout his lifetime. Early imperial coin portraits included individualized features that identified each ruler. The front (obverse) of this coin portrays the head of Roman Emperor Augustus facing left, with a civic oak crown. The coins were then struck, one by one, in a process similar to how coins are created today. The tiny images were carved by engravers into bronze dies, with one for the front and another for the back. Until Late Antiquity, portraits usually appeared in profile. While the front side depicted the sovereignвЂ™s portrait, the back was often used to communicate the rulerвЂ™s accomplishments or aspirations. Inscriptions on coins help identify the ruler. Thereafter, profile portraits of rulers or other members of the imperial family became the standard subject on coins throughout the Roman Empire. It was not until 44 BCE that the portrait of a living person-Julius Caesar-appeared on coins. Early coins depicted the heads of gods and goddesses on the front side, often in profile, while the back depicted animals, natural resources, symbols, and references to historical events. The same was true in ancient Rome, which began producing its first coinage in the late 4th century BCE. Portraits of important people appear on local currency all around the world.

Denarius silver