Dr Ganesh Nana, chief economist at Business and Economic Research Limited, is right on the money with today’s comment’s that we need the Reserve Bank to step in to provide low cost business loans - in effect, printing money says Productive Economy Council (PEC) spokesman Selwyn Pellett.

“It’s our sovereign right to do so and right now it makes perfect sense to all but the foreign banks,” he says. read more »

“The PEC, led by former Hi Growth Project (Ministry of Economic Development) Trustee Selwyn Pellett, said it thought banks were “now manipulating the behaviour of their clients by talking up long term interest rates and thus signalling that further interest rate cuts are unlikely.”

From Interest.co.nz