INDEPENDENT NEWS

No Place for Complacency

Published: Thu 23 Mar 2017 12:52 PM
Rt Hon Winston Peters
New Zealand First Leader
Member of Parliament for Northland
23 MARCH 2017
NO PLACE FOR COMPLACENCY
It is a truth universally acknowledged that the Reserve Bank’s OCR releases are masterpieces of misinformation, says New Zealand First Leader and MP For Northland, Rt Hon Winston Peters.
“Hence the Bank’s use of the term ‘strong population growth’ to describe what is actually record and unprecedented levels of immigration into New Zealand.
“The Bank is conflating ‘strong population growth’ with strong economic growth when in fact New Zealanders are worse off because of lower wages, higher unemployment and pressure on services.
“On the global economy we are assured, ‘major challenges remain’ What is happening is that the global economy is still stuck in low growth.
“The Bank’s statement fails to alert New Zealand house buyers that internationally the move away from the times of ultra-low interest rates has begun with the US Federal Reserve starting to raise rates.
“The Bank’s statement concludes with magisterial blandness; “Numerous uncertainties remain, particularly in respect of the international outlook, and policy may need to adjust accordingly.”
“In reality, with many property and share markets around the world highly inflated the global economy could be in for a rough ride as the era of cheap money ends. The Bank does not serve New Zealanders by glossing over those risks and feeding complacency,” says Mr Peters.
ENDS

Next in New Zealand politics

Concerns Conveyed To China Over Cyber Activity
By: New Zealand Government
GDP Decline Reinforces Government’s Fiscal Plan
By: New Zealand Government
New Zealand Provides Further Humanitarian Support To Gaza And The West Bank
By: New Zealand Government
High Court Judge Appointed
By: New Zealand Government
Parliamentary Network Breached By The PRC
By: New Zealand Government
Tax Cuts Now Even More Irresponsible
By: New Zealand Labour Party
View as: DESKTOP | MOBILE © Scoop Media