Saturday, April 28, 2007

Bollard Blunders On

Alan Bollard, New Zealand's Ben Bernanke, has raised the cash rate to 7.75 percent making it the highest discount rate in the western world. I cannot see anthing unique about our economy that means that we must have higher interest rates than other nations. Floating mortgage interest rates have just gone over 10 percent again.

One Alan cannot match Two Davids.

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