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Monetary Policy Should Favour Exports
29th January 2007
Monetary Policy Should Favour Exports
New Zealand First is pleased that there has been no hike in the Official Cash Rate (OCR).
“High interest rates and an over valued New Zealand dollar are already serious obstacles for our export sector,” said Economic Development spokesperson Doug Woolerton.
“The rural sector is also faced with a mixed outlook for commodities and increasing costs.
“The Reserve Bank Governor was right to resist increasing the cash rate last week, and must continue to weigh futures decisions in favour of exporters.
“The days of a myopic focus on inflation should be gone,” said Mr Woolerton.
ENDS
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