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.

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