The Rt Hon Winston Peters MP, Leader of New Zealand First, today said that the Reserve Bank decision to cut the official cash rate to 5.75% is the right decision albeit a conservative one.

“The fact is that economic conditions amongst most of our major trading partners have flattened considerably and the knock on effects in our heavily export dependent economy cannot be escaped.

“However, if the international economic slowdown becomes in any way protracted the Bank’s decision today will be seen to have been too conservative,” said Mr Peters.

ENDS

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