NZ Herald
The paper leads with the economy, and says Reserve Bank Governor Alan Bollard is expected to hack more than 1% off the Official Cash Rate next week in an attempt to bring down interest rates. The Herald reports the Pacific Event Centre in Manukau City will on Tuesday host a bulk real estate auction of 100 houses and sections as house-sellers fight the depressed property market. And the number of New Zealanders moving to Australia last month set a record high of 47,800.
Dominion Post
The Dominion Post says Prime Minister John Key doubts the world financial crisis can be solved within 18 months.
The APEC summit in Peru has ended with the 21 leaders pledging to "take all necessary measures" to resolve the crisis. But immediately after the meeting, Mr Key appeared more pessimistic, describing the goal as "aspirational".
The Press
The paper reports heavy rain has caused floods in Nelson and the West Coast, but the unruly weather shows no signs of breaking an emerging drought in Canterbury. The starkly contrasting conditions are the result of the same northerly subtropical flow dumping rain on the north and west of the South Island but leaving eastern areas experiencing warm, humid weather. The Press says environmentalists highlighting the plight of giant snails on the West Coast gatecrashed Monday's public meeting of Crown-owned coal mining company Solid Energy. Solid Energy boss Don Elder was forced to dodge a custard pie thrown by the protesters.
Otago Daily Times
The paper says an innovative programme aimed at reducing drink driving in the Waitaki District might be tried nationally if a six month trial proves successful. Prior to sentencing, all drink drivers appearing in the Oamaru District Court will be shown a DVD containing footage from television programme Police 10-7 as well as locally filmed incidents.
