Originally Posted by
R650R
Today the RBNZ cut cash rate due to National managing inflationary pressures down and banks quickly started dropping interest rates.
Somehow Chloe couldn’t see anything good in people’s mortgage rates getting lower and went on a rant about child poverty et al.
Of someone can explain why it’s a bad thing to have mortgage rates go down please explain.
“Greens: RBNZ lowers OCR, Govt continues ‘let them eat cake’ strategy
While the Reserve Bank lowers the Official Cash Rate, it’s this Government’s policies driving poverty in our communities.
“The Reserve Bank’s decision to slightly lower interest rates today will be welcome news for some, but won’t help the approximate 23,000 more kids the Government is pushing into poverty,” says Green Party co-leader and spokesperson for Finance Chlöe Swarbrick.
“Monetary policy is a blunt instrument. It’s fiscal policy - that is, the Government’s choices on tax and spend - which dictates the rules, who wins, and who loses in our economy.”
If she understood economics or maths, she would not be a Green Party member.
Physics; Thou art a cruel, heartless Bitch-of-a-Mistress
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