Source: Labour Party – Press Release/Statement:
Headline: Rate rise not needed if Government was doing its job
Today’s interest rate rise wouldn’t have been necessary if the Government had been doing its job properly and targeting the sources of inflation, Labour says.
“New Zealand interest rates are among the highest in the world, putting more and more pressure on our exchange rate to the detriment of exports,” Finance spokesperson David Parker says.
“Not only that, today’s rise to 3 per cent is another blow for middle New Zealand. It will add an extra $70 a month to a $500,000 mortgage or $50 a month to a $300,000 one, on top of last month’s increase.
—
The claims and opinions made in this statement are those of the release organisation and are not necessarily endorsed by, and are not necessarily those of, The Daily Blog. Also in no event shall The Daily Blog be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on the above release content.
