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Interest Rates Still Too High - Peters

Interest Rates Still Too High - Peters

New Zealand First says interest rates are still too high and should be brought down to reduce the value of the dollar and increase returns to exporters.

The Reserve Bank has just announced the Official Cash Rate remains unchanged at 5.25 percent. Rt Hon Winston Peters said today that maintaining the present high OCR ignored trade figures. “The dollar has to come down to restore the value of exports and improve our soaring trade deficit. “The Reserve Bank continues to be obsessed with internal consumption and the Auckland housing market while ignoring the real engine room of the economy,” said Mr Peters.

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