Reserve Bank gets it right by keeping OCR steady
Wednesday, 13 November 2019, 3:27 pm
Press Release: ACT New Zealand
“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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