Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 

OCR statement – what are we waiting for?

New Zealand Manufacturers and Exporters Association
Corner Cambridge Terrace & Manchester Street
PO Box 13-152, Christchurch, New Zealand

Website: www.mea.org.nz


Media Release 6 March 2008.
OCR statement – what are we waiting for?

The New Zealand Manufacturers and Exporters Association, (NZMEA), says that although the Reserve Bank’s decision to hold to the OCR was expected, there are signs that the wider economy is beginning to share some of the export pain; so there is the possibility of a rate cut later in the year.

“The whole economy is slowing fast and today’s Monetary Policy Statement reflected that”, says Chief Executive John Walley.

“The costs to New Zealand companies and households have already risen sharply during the past 12 months due to the increase in the cost of borrowing, petrol costs, the strong NZ dollar, and now we are seeing the returns from housing investment reflecting the declining margins pain for exporters. It is election year, the economy is being squeezed from all sides, and this will put more pressure on the RBNZ for a rate cut in the third quarter this year, any later will be too close or on the wrong side of the election”.

“Certainly the pressure from exporters for a cut will continue. However, the real issue is the underlying policy that drives the two economy rollercoaster. The options are there, such as variable rate compulsory superannuation, and we hope for a lot from the Select Committee on Monetary Policy in this regard”.

NZMEA – the authentic and independent voice for manufacturers and exporters.

ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Back Again: Government Approves TPP11 Mandate

The Government has approved a negotiating mandate for Trans-Pacific Partnership 11 (TPP11), which will ensure New Zealand businesses remain competitive in overseas markets.

Trade Minister Todd McClay says New Zealand will be pushing for the minimal number of changes possible to the original TPP agreement, something that the remaining TPP11 countries have agreed on. More>>

ALSO:

.

 
 

Gordon Campbell: On Why Labour Isn’t Responsible For Barnaby Joyce

As a desperate Turnbull government tries to treat the Barnaby Joyce affair as a Pauline Hanson fever dream – blame it on the foreigners! We’re the victims of the dastardly New Zealand Labour Party! – our own government has chosen to further that narrative, and make itself an accomplice. More>>

ALSO:

Rail: Greens Back Tauranga – Hamilton – Auckland Service

The Green Party today announced that it will trial a passenger rail service between Auckland, Hamilton and Tauranga starting in 2019, when it is in government. More>>

ALSO:

Housing: Voluntary Rental Warrant Of Fitness For Wellington

Wellington City Council is partnering with the University of Otago, Wellington, to launch a voluntary Rental Warrant of Fitness for minimum housing standards in Wellington, Mayor Justin Lester has announced. More>>

ALSO:

Treaty: Agreement In Principle Signed With Moriori

“The Crown acknowledges Moriori was left virtually landless from 1870, hindering its cultural, social and economic development. The Crown also acknowledges its contribution to the myths that the people of Moriori were racially inferior and became extinct." More>>

ALSO:

Susan Devoy: Call For Inquiry Into State Abuse Reaches UN

Race Relations Commissioner Dame Susan Devoy is in Geneva and has asked a United Nations committee to urge the New Zealand government to initiate an inquiry into the physical and sexual abuse of children and disabled people held in state institutions. More>>

ALSO:

(Not National): Cross-Party Agreement On Pike River Re-Entry

The commitment was signed this afternoon by the leaders of Labour, United Future, The Maori Party, and the Green Party and, together with the earlier commitment by New Zealand First, means that there is now a Parliamentary majority behind the families’ fight for truth and justice. More>>

ALSO:

Earlier:

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election