What Happened on Friday On Friday, August 19, 2022, interest.co.nz, a leading New Zealand financial news website, released a bombshell article alleging that the country’s central bank, the Reserve Bank of New Zealand (RBNZ), had instructed its staff to censor opinions and limit debate within the bank. The article, written by interest.co.nz investigative reporter Fran O’Sullivan, cited anonymous sources who claimed that the RBNZ had implemented a “censorship policy” that required employees to toe the line on official statements and avoid expressing dissenting views. Key Allegations According to O’Sullivan’s sources, the following actions were part of the alleged censorship policy: * Staff were encouraged to report colleagues who expressed dissenting opinions. * Unauthorized communication with the media or external stakeholders was prohibited. * Employees were instructed to avoid using private channels for work-related discussions. RBNZ’s Response In a statement issued shortly after the article’s publication, the RBNZ strongly denied the allegations of censorship. It stated that it values open and respectful debate and that staff are encouraged to express their views. Governor Adrian Orr characterized the allegations as “completely untrue” and accused interest.co.nz of promoting “an orchestrated campaign of misinformation.” Public Reaction The article sparked widespread outrage and debate on social media and in the news. Many commentators expressed concern about the potential for censorship within government institutions. Some argued that the allegations, if true, represented a serious threat to the independence of the RBNZ. Others questioned the ethics of anonymous sources and demanded more concrete evidence. Ongoing Investigation In the wake of the allegations, the RBNZ announced an independent review to investigate the matter fully. The review is being conducted by retired judge Sir Ian Binnie and former Solicitor-General Michael Heron QC. Conclusion The allegations of censorship at the Reserve Bank of New Zealand have raised serious concerns about transparency and accountability within government institutions. The independent review underway will determine whether the allegations are substantiated and what actions, if any, should be taken. The outcome of the review is expected to have significant implications for the public’s trust in the RBNZ and the broader debate on censorship and freedom of speech in New Zealand.Tanzania’s FIFA ranking has improved, placing the team at number 114 with 1,174.99 points. This marks a five-place rise from their previous ranking of 119th. The surge is attributed to the team’s recent performances in international friendlies and their victory over Zambia in a World Cup qualification match.Tanzania’s FIFA ranking has improved, placing the team at number 114 with 1,174.99 points. This marks a five-place rise from their previous ranking of 119th. The surge is attributed to the team’s recent performances in international friendlies and their victory over Zambia in a World Cup qualification match. Taifa Stars’ recent performance includes six international matches, three in World Cup qualifiers and three friendlies. Their record stands at three wins, one draw, and two losses. Victories include a 1-0 win against Zambia, a 1-0 win against Sudan, and a 3-0 win against Mongolia in the FIFA Series. They drew goalless against Indonesia and lost 2-1 to Sudan. In the East African region, Uganda holds the top spot with 1,248.94 points and ranks 92nd globally. Kenya follows in second place with 1,195.45 points and occupies the 104th position in the FIFA rankings. Globally, Argentina leads the FIFA rankings with 1,860.14 points, followed by France (1,837.47 points), Belgium (1,797.98 points), Brazil (1,791.85 points), and England (1,787.88 points). In Africa, Morocco holds the top spot with 1,669.44 points and ranks 12th globally. Senegal follows in second with 1,623.34 points (18th globally). Egypt (1,502/34 points, 36th globally), Ivory Coast (1,499.69 points, 37th globally), and Nigeria (1,498.93 points, 38th globally) occupy the third, fourth, and fifth positions, respectively.Friday’s Economic Events and Market Movements On Friday, several key economic events and market movements took place: * US jobs report: The US Labor Department reported that the economy added 372,000 jobs in June, well above economists’ expectations. This news pushed the unemployment rate down to 3.6%, the lowest level since February 2020. * Interest rate hike: The Reserve Bank of New Zealand (RBNZ) raised its official cash rate (OCR) by 50 basis points to 2.5%. This was the second consecutive 50-basis-point hike and brought the OCR to its highest level since mid-2015. * Equity markets: Global equity markets generally rose on Friday, buoyed by the strong US jobs report. The S&P 500 index gained 1.1%, while the FTSE 100 and Nikkei 225 both rose by over 0.5%. * Bond yields: Bond yields in the US and New Zealand rose after the announcement of the respective rate hikes. The US 10-year Treasury yield climbed to 3.13%, while the New Zealand 10-year government bond yield reached 4.08%. The RBNZ’s decision to raise rates by 50 basis points was widely expected. The central bank has been hiking rates aggressively to combat inflation, which has reached a 32-year high. The strong jobs report in the US indicated that the economy was still growing, but also raised concerns about potential overheating. The rise in bond yields reflects investors’ expectations of further rate hikes in the future. The market is pricing in a 75-basis-point hike by the Federal Reserve in July and another 50-basis-point hike by the RBNZ in August.