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Interest Rise Will Cripple Exporters
Thursday, 29 January 2004, 10:33 am
Press Release: New Zealand First Party
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Interest Rise Will Cripple Exporters
Rt Hon Winston
Peters today warned that the Reserve Bank’s interest rate
hike will lead to a higher Kiwi dollar and further erode the
position of local exporters on world markets.
The Reserve
Bank lifted the Official Cash Rate from five percent to 5.25
percent.
“The pressures leading to the interest rate rise
are domestic and reflect a booming consumer driven internal
economy and a gloomy overseas trade position. Today’s move
by the Reserve Bank will simply exacerbate the
situation.
“Dr Cullen will be lucky if he can stop the
bubble bursting before the next election,” said Mr
Peters.
© Scoop Media

Gordon Campbell: On the Sony cyber attack
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