Mortgage rates would have been higher under Brash
Mortgage rates would have been much higher under Brash
Had Don Brash been governor pursuing National's
early 1990s annual inflation target of zero to 2%, mortgage
interest rates would currently be up to one percentage point
higher than they are, Progressive MP Matt Robson says.
Don Brash's and National's monetary policy was in force then
floating home mortgages would now be above 10%.
instead of having one of the fastest growing economies in
the world, we would instead have much slower growth and many
more in welfare," Matt Robson said.
"The Reserve Bank
would be permanently maintaining a higher interest rate
structure to deliver National's artificially low inflation
target year-in and year-out," Matt Robson said.
days, the Reserve Bank aims to keep annual inflation within
a range of 1% to 3% over economic cycles. The Reserve Bank
has just reviewed interest rates for the last time this year
and left the official cash rate unchanged at 6.5
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