JENNY RUTH: What problem is the Reserve Bank addressing?

Fri, 16 Oct 2020

What on earth is the Reserve Bank thinking?Interest rates are at historic lows and yet the central bank's officials keep talking about how they want interest rates to go lower still for both borrowers and savers.The RBNZ already knows that the reason lending is contracting – except for buying houses – is because demand just isn't there.Its own data shows that while housing credit in August rose 6.5 percent, personal consumer credit shrank 11.5 percent, business credit eased 0.5 percent and credit to agriculture fell 1.2 perc...

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