Money supply
Sir, — It appears that with J. C. Ring’s letter of May 21, “I have caught a Social Credit red herring, not the Government shark for winch I was fishing. Sadly for J. C. Ring, the effect of money supply on inflation is a well-documented case and thq correlation between New Zealand’s money supply and inflation rate is a matter of record. I repeat that West Germany and Switzerland have strong governmental controls on money supply and they have the lowest inflation rates in the O.E.C.D. The New Zealand Party’s economic policy places emphasis on a wide plank of economic policies designed to work together to achieve the recovery of our economy. The belief that controlling interest rates alone is going to solve our inflation rate, is the last gasp of the aptly described “Funny Money Party,” — Yours, etc., - P. N. RUSSELL, Yaldhurst Candidate, New Zealand Party. May 21, 1984.
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Press, 28 May 1984, Page 20
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151Money supply Press, 28 May 1984, Page 20
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