Scoop has an Ethical Paywall
Interest Rate Hike Shows Anderton A King Canute
Interest Rate Hike Beaches Anderton Like King Canute
“The Reserve Bank’s decision today to lift the Official Cash Rate by 0.5 percent shows up Jim Anderton’s impotence against economic reality,” said Rodney Hide.
“Jim Anderton campaigned vociferously against the Reserve Bank in Opposition and has continued his attacks even while in government. And yet during his time as Deputy Prime Minister and Minister of Economic Development interests rate have hiked 32 percent.
“When Jim Anderton received his Ministerial warrant on 10 December, the interest rate for 90-day Government bills was 5.15 percent. The interest rate is now 6.82.
“The Reserve Bank is independent and must remain so. Jim Anderton should stop his embarrassing posturing and start listening to what business needs to provide jobs and growth.
“Jim Anderton has been as successful at keeping interest rates down as he has at keeping petrol prices down.
“The Deputy Prime should stop his King Canute performances. They make the New Zealand government look a joke to investors,” concluded Rodney Hide.
ENDS
Gordon Campbell: On The Public Sector Carnage, And Misogyny As Terrorism
National Maori Authority: Maori Authority Warns Government On Fast Track Legislation
NZ Government: Comprehensive Partnership The Goal For NZ And The Philippines
DoC: Canterbury Spotted Skink In Serious Trouble
Te Pāti Māori: Oranga Tamariki Cuts Commit Tamariki To State Abuse
NZCTU: Inflation Data Shows Need For A Plan On Climate And Population
Statistics New Zealand: Annual Inflation At 4.0 Percent
