“The Monetary Policy Committee has made a sensible decision to keep the OCR at one per cent”, according to ACT Leader David Seymour.

“After cuts to the OCR in May and Augus, and with historically low interest rates, a further reduction would have created fresh uncertainty about the direction of the New Zealand economy.

“The economy requires sound, stable monetary policy which isn’t helped by sharp changes in direction by the Reserve Bank. This is especially so given the uncertainty being created by the Labour Government as it lurches from one policy failure to the next.

“Monetary policy can only maintain price stability. Ultimately, it is sound fiscal policy from central government that will help boost productivity and living standards. That means low, flat taxes and less red tape which are reflective of the values of an ambitious country.”

ends

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Pike River Recovery: Loader Driven By Russell Smith Recovered

A loader driven by former miner Russell Smith at the time of the Pike River Mine explosion has now been recovered from 1581m up the 2.3km drift access tunnel.
The recovery of the loader went smoothly and to plan. Pike River families were able to witness it being towed to a storage area, Chief Operations Officer Dinghy Pattinson says.
“We reached the loader at the end of last week, and then conducted a very deliberate and exacting forensic examination of the vehicle and operational zone... More>>