Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

NZ$ Plummets, Interest Rate Hike Looks Unavoidable

Speech Extract
Hon Richard Prebble

WCC Business Show: " "10 by 2010" –
Making New Zealand 10th in the world in standards of living, education, welfare, health by 2010"

Westpac Trust Stadium

NZ$ Plummets, Interest Rate Hike Looks Unavoidable

Last night the New Zealand dollar fell to the lowest level since its all-time low on 29 March 1985, said ACT Leader, Hon Richard Prebble.

Last nights trading on the Foreign Exchange markets saw the dollar fall to below US45c.

“The level of the Kiwi is near crisis level. This means a further wave of price increases, lead by increased petrol prices is inevitable.

“On a trade weighed basis the Kiwi is now at an historic low. The New Zealand dollar is at its lowest ever level against the Yen which means all Japanese goods must increase in price.”

ACT has been told by the financial market that foreign investors are not investing in New Zealand. This is compounded by the fact that thousands of New Zealanders continue to take their money off shore.

“The country is paying a very high price for anti-business laws like the Employment Relations Act.

“Statements like ‘we won, you lost, eat it’, from the Finance Minister do enormous damage to the economy.

“It appears just a question of time before the Reserve Bank is forced to hike up interest rates to protect the Kiwi dollar from a total melt down,” said Hon Richard Prebble.

ENDS

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Tourism’s Endless Sense Of Grievance

Sad that a once in a century pandemic should have come along before the government had a clearly thought out plan for rescuing all the firms and saving all the jobs in the tourism sector. Sad that the government now looks like it was making up the criteria for support as it went along. But guess what? To some extent, they were. Possibly because in the modern era, a pandemic had never before caused international travel to evaporate almost overnight... More>>

 

PREFU: Economy Doing Better Than Forecast

The Pre-election Economic and Fiscal Update released today shows that the near-term economic recovery has been stronger than the Treasury and many economists predicted at the May Budget, as the economy bounced back strongly out of lockdown... More>>

ALSO:


PM Statement: Cabinet COVID-19 Alert Level Review

Takiri mai te ata, ka ao, ka ao, ka awatea, tihei mauriora! Tātou katoa ngā iwi o Aotearoa, tēnā koutou! Tēnā tātou e whakanuia ana i te wiki nei, te wiki o te reo Māori Greeting to you all from Otepoti, Dunedin. This week is the Māori ... More>>

ALSO:

Greens: $297m Fund To Support Sustainable Food And Farming

The Green Party has released its Farming for the Future Plan, including a $297m fund to support farmers and growers to transition to climate-friendly practices. The plan will: · Improve how we look after our land and water, with a levy on the ... More>>

ALSO:

National: Plan To Restore NZ’s Prosperity

National’s Economic and Fiscal Plan carefully balances the need to invest in infrastructure and core public services while also reducing tax pressure on Kiwi families and businesses. National Leader Judith Collins and Finance spokesperson Paul Goldsmith unveiled National’s ... More>>

ALSO:

NZ First: Party List

New Zealand First has a proven twenty-seven-year history of bringing balance and common sense to our government. Amid the continued setbacks of COVID-19 restrictions, New Zealand First has once again sustained its profile by selecting a strong team ... More>>

Election: Arriving Travellers In Isolation To Be Able To Vote By Telephone

Up to 5,000 people in managed isolation or quarantine will be able to vote by telephone in the general election and referendums after an amendment to electoral regulations last week. Chief Electoral Officer Alicia Wright says the Electoral Commission sought ... More>>

National: Investing In Our Children’s Future

A National Government will prioritise lifting achievement for all New Zealand children, no matter their background or ability, National Party Leader Judith Collins and National’s Education spokesperson Nicola Willis say. “Parents just want what’s best for ... More>>

Police: Numerous Arrests Following Investigation Into Historical Offending At Auckland School

Detective Senior Sergeant Geoff Baber, Auckland City Police: Police have made six arrests as part of an operation investigating historical offending at Dilworth School. Auckland City Criminal Investigation Branch have been investigating since a complaint ... More>>

ALSO:

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 


 

InfoPages News Channels