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Interest Rates Move In Right Direction
Interest Rates Move In Right Direction
“The Reserve Bank’s move to cut interest rates is a step in the right direction,” said Council of Trade Unions secretary Paul Goulter today.
Paul Goulter said he was not surprised at the move, which should lead to a slight fall in mortgage interest payments.
“The cut, though relatively small, will lower the risk of the economy experiencing a hard landing and so avoid further drops in business confidence,” he said.
“It will also assist investment, which will reduce the impact on job loss.”
Paul Goulter said the rate
cut would be welcome news to those people struggling to pay
high interest rates on home
loans.
New Zealand Council of Trade Unions
Te Kauae Kaimahi
The New Zealand Council of Trade Unions Te Kauae Kaimahi brings together over 350,000 New Zealand union members in 40 affiliated unions. We are the united voice for working people and their families in New Zealand.
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