We have to say we tend to agree with John Key on this. We had expected Allan Bollard to act more decisively today. But we do respect the fact that he is independent and that it is his call. Good on John Key for showing leadership by making this call
This from Stuff
National Party leader John Key today gave Reserve Bank governor Alan Bollard the message that New Zealand interest rates need to come down, and the sooner the better.
"Overnight we saw five or six central banks getting together and cutting interest rates and the Australians cut interest rates two days ago," he told reporters on the campaign trail today.
"While the Reserve Bank governor is independent, my view is that interest rates do need to come down in New Zealand.
"We would be eager for him to be addressing that issue and whether he addresses it on October 23 or earlier is ultimately his call."
Dr Bollard said today the bank was monitoring international developments very closely and he thought measures it had already taken were sufficient at this stage.
