The Reserve Bank has increased the official cash rate to 2.75%. But much of the inflation affecting New Zealand wallets is imported and beyond the bank’s control.
Articles on Official cash rate
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Before the Commerce Commission investigates the banking industry, we should remember there are good reasons for the way the sector is set up – and the Reserve Bank is at the heart of it. .
As inflation bites, targeted relief for those most affected by the rising cost of living would be the best short-term option.
Yes, the bank would effectively pay you to borrow money. But negative interest rates won’t please savers, nor will they meet the big challenges of economic recovery.
Top contributors
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Professor, Finance, UTS Business School, University of Technology Sydney
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Adjunct Associate Professor, Centre for Applied Energy Economics and Policy Research, Griffith University
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Senior Lecturer in Economics, University of Otago
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Senior Lecturer, Department of Economics and Finance, Auckland University of Technology