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

Gordon Campbell: On The
America’s Cup

The fact New Zealand now reigns supreme once again in the most sophisticated contest in the world’s most elite sport – yacht racing – can’t help but reflect the trajectory the country has been on since the 1980s...

Elite sport used to feel more like a collective, shared experience. It was our team, composed of people who lived and worked like us. Now, not so much. More>>

 

PM's Press Conference: Red Socks And Secret Tapes

Prime Minister Bill English began his post-cabinet press conference by explaining how well the National Party's annual conference went. He also mentioned today's announcement of changes to the EQC disaster insurance legislation and wished Emirates Team New Zealand well in the America's Cup. More>>

Max Rashbrooke: On How To Make Government More Open

International surveys, while often complimentary, have also pinpointed major weaknesses: political donations are badly regulated, for instance, and appointments to government boards frequently go to those with strong political connections. More>>

In Court: Hamilton Student's Lawsuit Over Climate Change Policy

A law student from Hamilton is preparing to challenge the Government in the High Court on Monday over what she says is a “failure” to properly address climate change. More>>

ALSO:

Gordon Campbell: On The Fallout From The Barclay Tape

This is hardly a case of cleaning out your desk and being turfed out onto the pavement. As others have pointed out, the disgraced Clutha-Southland MP will remain on the public payroll for three months until the election, and for three months afterwards. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election
 
 
 
  • PublicAddress
  • Pundit
  • Kiwiblog