Kōrero: Reserve Bank

Borrowers and savers (2 o 2)

Borrowers and savers

This cartoon explores how changes made to the official cash rate by the Reserve Bank affect borrowers and savers differently. In late January 2009 Reserve Bank Governor Alan Bollard (holding the whip) cut the official cash rate to 3.5%, which was the lowest it had been since it was first introduced in 1999. This was good for borrowers, but not for savers because it led to a drop in interest rates. The overworked savers are being assured that their financial pain will benefit the wider economy.

Te whakamahi i tēnei tūemi

Alexander Turnbull Library
Reference: DCDL-0010255
Cartoon by Mike Moreu

Permission of the Alexander Turnbull Library, National Library of New Zealand, Te Puna Mātauranga o Aotearoa, must be obtained before any re-use of this image.

Ngā whakaahua me ngā rauemi katoa o tēnei kōrero

Te tuhi tohutoro mō tēnei whārangi:

John Singleton, 'Reserve Bank - Independence and supervision', Te Ara - the Encyclopedia of New Zealand, http://www.TeAra.govt.nz/mi/cartoon/33466/borrowers-and-savers (accessed 17 January 2022)

He kōrero nā John Singleton, i tāngia i te 20 Jun 2012