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

 


Reduce the OCR

Reduce the OCR

“Finance Minister Bill English needs to man up and tell the Reserve Bank to reduce the Official Cash Rate (OCR) to 2.50% for starters, and to plan for further reductions over the coming months” said Stephnie de Ruyter, leader of the Democrats for Social Credit Party.

“New Zealand’s OCR increases are out of step with global trends and contribute significantly to the excessive trading of our currency. The NZ dollar is the world’s tenth most traded currency with an average of US$110b dollars a day being bought and sold, mostly through offshore transactions.

The OCR level keeps the dollar’s value too high for exporters to compete in the international market, adversely impacts on employment opportunities, adds inflationary pressure, and increases interest payments for families already struggling to pay their bills.

“Kiwis reliant on income from interest on savings and investments would lose a little as interest rates on deposits went down, but would benefit from lower prices.

“An announcement in next week’s Budget that the Minister is going to get the Reserve Bank to consider reducing the OCR would be applauded many struggling New Zealanders.”


ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Election Day: Make Sure You're A Part Of It!

Saturday 20 September, is election day, and New Zealanders’ last chance to have a say on who leads the country for the next three years.

“The people and parties we elect tomorrow will be making the decisions that affect us, our families and our communities,” says Robert Peden, Chief Electoral Officer. “It doesn’t get much more important than that, and we need all New Zealanders to use their voice and vote.”

Voting places will be open from 9.00am until 7.00pm on election day. The busiest time at voting places is usually 9.00am - 11.00am.

“Take your EasyVote card with you when you go to vote, as it will make voting faster and easier, and vote close to home if you can. But don’t worry if you forget your card, or didn’t receive one, because as long as you are enrolled to vote, your voice will be heard,” says Mr Peden. More>>

 

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Politics
Search Scoop  
 
 
Powered by Vodafone
NZ independent news