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Thread: Power and petrol must come down - Bollard

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    MotherBear's Avatar
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    Default Power and petrol must come down - Bollard

    Power and petrol must come down - Bollard
    Page 1 of 2 .... 4:00AM Thursday Dec 11, 2008
    By Brian Fallow

    Reserve Bank Governor Alan Bollard has taken a swipe at oil companies, power companies, local authorities and banks, among others, for not pulling their weight in these hard economic times.

    In a speech entitled "Everyone needs to play their part" yesterday, Dr Bollard called for price drops for almost all life's essentials.

    Food, electricity and petrol could all come down in price, he said.

    But leaders in the major industries hit back last night, rejecting the criticism.

    In his speech, Dr Bollard told the Wellington Chamber of Commerce that inflation was also still an issue.

    He has cut the Reserve Bank's official cash rate sharply, from 8.25 to 5 per cent, in just over four months in anticipation of a global recession coming on top of a local one.

    More here.
    Mother Bear

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    Taffy's Avatar
    Taffy is offline He who shall be ignored
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    Yeah, funny how oil is the cheapest it's been in 5 years, yet petrol is only as cheap as it was around 12 months ago! As if they haven't profited enough in recent times.
    Taffy

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