Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Federated Farmers welcomes cut in Official Cash Rate


18 November 2015

Federated Farmers welcomes cut in Official Cash Rate

Federated Farmers has welcomed the Reserve Bank’s decision to cut the Official Cash Rate by 25 basis points to 2.25 percent.

“It’s now up to the banks to pass this cut on to mortgage holders, and we urge them to do so on behalf of all New Zealand farmers,” Dr Rolleston said.

“Farmers’ cash flow is tight at the moment, particularly in the dairy sector, and anything that can ease the pressure on their bottom line will help get as many dairy farmers as possible through the current season.”

“This cut in the Official Cash Rate should also take pressure off the dollar, which is vital for our farming sector. We are also pleased to see that the Reserve Bank has signalled a further cut,” Dr Rolleston said.

ENDS



© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Up 17.% In June Year: Fuel And Rent Drive Inflation

The consumers price index (CPI) rose 0.6 percent in the June 2019 quarter, due to higher prices for petrol and rent, Stats NZ said today. More>>

ALSO:

Services: Softer June Points To Economic Slowdown

Activity in New Zealand's services sector softened in June, adding to a picture of lacklustre economic growth. The BNZ-BusinessNZ performance of services index fell 0.8 of a point in June from May to a seasonally adjusted 52.7. More>>

ALSO:

Incomings: Migration Remains High

Annual net migration was provisionally estimated at 50,200 (± 800) in the year ended December 2018 compared with 52,600 in the previous year, Stats NZ said. More>>

ALSO:

BusinessDesk: ComCom Files High Court Proceedings Against Westpac

The commission alleges the bank breached the Credit Contracts and Consumer Finance Act 2003 by failing to provide key information it was required to give customers under the law. More>>