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Interest Rates Still Too High - Peters
Interest Rates Still Too High - Peters
New Zealand First says interest rates are still too high and should be brought down to reduce the value of the dollar and increase returns to exporters.
The Reserve Bank has just announced the
Official Cash Rate remains unchanged at 5.25 percent. Rt Hon
Winston Peters said today that maintaining the present high
OCR ignored trade figures. “The dollar has to come down to
restore the value of exports and improve our soaring trade
deficit. “The Reserve Bank continues to be obsessed with
internal consumption and the Auckland housing market while
ignoring the real engine room of the economy,” said Mr
Peters.
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