Thursday, December 10, 2015

Positive Move with OCR Drop

Today’s drop in the Official Cash Rate (OCR) is a positive move for the economy says the Employers and Manufacturers Association.

The Reserve Bank reduced the OCR by 25 basis points to 2.50 percent.

Chief Executive Officer, Kim Campbell, says a small drop was justified given the anticipated headwinds from climatic conditions and poor commodity prices.

“Overall, we think this is good news for our members and keeps New Zealand competitive, relative to our trading partners,” says Mr Campbell.

“Today’s announcement is excellent news for our exporters and those earning foreign exchange.

“Inflationary pressures remain low and concerns about housing costs are being addressed on the supply side,” says Mr Campbell.

ENDS

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