fbpx
Print this page
Thursday, 10 March 2016 10:52

Banks urged to pass on OCR cut

Written by 
Banks urged to pass on OCR cut

Federated Farmers has welcomed the Reserve Bank's decision to cut the Official Cash Rate by 25 basis points to 2.25%.

"It's now up to the banks to pass this cut on to mortgage holders, and we urge them to do so on behalf of all New Zealand farmers," Federated Farmers president Dr William Rolleston says.

"Farmers' cash flow is tight at the moment, particularly in the dairy sector, and anything that can ease the pressure on their bottom line will help get as many dairy farmers as possible through the current season.

"This cut in the Official Cash Rate should also take pressure off the dollar, which is vital for our farming sector. We are also pleased to see that the Reserve Bank has signalled a further cut."

More like this

Editorial: Sensible move

Editorial: Sensible move

OPINION: The Government's decision to rule out changes to Fringe Benefit Tax (FBT) that would cost every farmer thousands of dollars annually, is sensible.

Dairy unity

Dairy unity

OPINION: A last-minute compromise ensured that the election of the new Federated Farmers national dairy chair wasn't a repeat of the Super 15 rugby final - Canterbury versus Waikato.

Popular Reads

Featured

Big return on a small investment

Big return on a small investment

Managing director of Woolover Ltd, David Brown, has put a lot of effort into verifying what seems intuitive, that keeping newborn stock's core temperature stable pays dividends by helping them realise their full genetic potential.

Editorial: Sensible move

OPINION: The Government's decision to rule out changes to Fringe Benefit Tax (FBT) that would cost every farmer thousands of dollars annually, is sensible.

National

Machinery & Products