Douglas confident on interest rates
PA Auckland Interest rates are certain to follow inflation down, according to the former Minister of Finance, Mr Roger Douglas.
‘‘l think we need to be patient. I have no doubt that interest rates are going to come down,” he told the Institute of Valuers yesterday. Mr Douglas said that for 15 to 20 years inflation
had been high in New Zealand and the public had yet to adjust to low inflation.
"If we get down to an inflation rate of zero per cent to 3 per cent, at the end of the day we will have an interest rate of 3 per cent plus a margin, whether that be 5, 6 or 7 per cent,” he said.
With inflation at 3 per cent, interest rates would then be between 8 per cent and 10 per cent.
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Press, 19 May 1989, Page 3
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142Douglas confident on interest rates Press, 19 May 1989, Page 3
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