Lower interest rates to help lift economy

By WMB Admin In Uncategorized No comments

Last week the Reserve Bank announced the OCR would stay at 1.5 per cent for now but that a further reduction may be required.

There continues to be a downside risk with employment and inflation while the global economic outlook remains weak. The bank expects that an increase in government spending and lower interest rates will help lift economic growth, and suggested an even lower OCR may be on the cards.

You can read the full announcement on the Reserve Bank website.