Not everyone will benefit from interest rate cut, economist warns
Craig Renney says particularly low-income people who rent might not be better off.
WATCH: Council of Trade Unions economist Craig Renney speaks with Brent Edwards.
Council of Trade Unions economist Craig Renney is pleased with the 50-basis point cut to the Official Cash Rate but warns it was so large because the economy is so weak.
Yesterday the Reserve Bank met market expectations and cut the OCR from 5.25% to 4.75%.
“Economic growth is weak, in part because
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