Questions for Reserve Bank governor, Graeme Wheeler, in the committee rooms, and for Finance Minister, Bill English, in the debating chamber, about the Reserve Bank’s cut in the official cash rate to two percent. Both say competitive pressures will determine whether the trading banks will pass the lower rate on to customers. In response to a question about the likely effect of lower interest rates on house prices, Bill English says the critical factor is the Auckland council’s control of supply.
short week
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