Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search


Copeland calls for NZ & Oz Int. Rates alignment

Media statement

For immediate release

Wednesday, 22 October, 2003

Copeland calls for alignment of NZ interest rate with Australia’s

United Future finance spokesperson, Gordon Copeland, today called on Reserve Bank Governor Alan Bollard to drop New Zealand’s cash rate tomorrow from 5% to 4.75%, so that it is exactly in line with the rate in Australia.

“I think there is a lot to be said for an alignment of the headline interest rate between the two nations. Bringing New Zealand’s rate into line with that of its Trans-Tasman neighbour makes us part of a much larger bloc.

“I worry when New Zealand has its rate individualised, and a margin above that available in Australia.

“It means that we have our head above the parapet and invite speculative activity which tends to drive up the value of the $NZ and hurt our exporters.

“I would dearly like to know what the effect would be of having an identical headline interest rate in both countries, and will never know unless we have the courage to actually do it. I think we have that opportunity now, and we should go for it.

“It should help to bring the value of the $NZ down slightly, thus boosting exports without damaging the domestic economy, or unduly fuelling house prices,” said Mr Copeland.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Vulnerable Kids, RNZ Funding, And Poppy

The decision to remove the word ‘vulnerable’ from the Ministry for Vulnerable Children could well mark a whole shift in approach to the care of children in need.

And I’m hedging with the ‘could well’ only because the Ardern government hasn’t yet spelled out whether the name change it has announced will also involve a rejection of the controversial use of Big Data to try and predict those children deemed to be at highest risk of inter-generational reliance on welfare support. More>>


Principals' Federation: End Of National Standards

Today the Minister of Education announced that the Government has stopped the controversial National Standards system of assessment and declared them an arbitrary measure which did not raise children's achievement as the previous Government intended. More>>


Public Good: People’s Report On Public Broadcasting And Media Presented

The People’s Commission on Public Broadcasting and Media, was crowdfunded and was informed by an extensive consultation, seeking the views of both those working in Media as well as gathering input both online and in person from ordinary Citizens. More>>


RBNZ To RNZB: PM's Press Conference

Prime Minister Jacinda Adern was joined by Minister of Finance Grant Robertson and Minister for Children Tracey Martin to announce the appointment of Adrian Orr as the new Governor of the Reserve Bank and the name change of the Ministry for Vulnerable Children to ‘Oranga Tamariki - Ministry for Children’. More>>


'Taming Globalised Capital': Why Is Labour Supporting Investment Rules In WTO?

‘Today, we learned the new government has added New Zealand’s name to a proposal designed to lead to foreign investment rules in the WTO at this week’s ministerial meeting in Argentina,’ said Auckland University Professor Jane Kelsey. More>>


Gordon Campbell: On The Politics Of Scaring Voters Back Into Line

Fear has always been a useful mobilising tool in politics… yet in 2017, bogeymen of all shapes and sizes seem to have fallen on hard times. For years, the National party had painted itself as being the only reliable defensive bastion against the terrifying prospect of a centre-left government… More>>


Gordon Campbell: On Drinking Water As A Failure Of Political Leadership

It is almost possible to feel sorry for the Health Ministry in their terrible, no good, very bad week... More>>





Featured InfoPages