Left to right: Robert Gray, Gwyn Claxton, Adam Davis and John Harris. Photos / Edward Gay
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The public gave their reaction to the interest rate rise this morning which spells more pain for homeowners and exporters but better returns for investors and people visiting the US. Edward Gay spoke to people on Auckland's Queen St
Robert Gray
Mr Gray is angry at the
increase in the OCR move.
"The bastards," he said.
Mr Gray was on his way to a shareholders meeting and said the rise of the OCR was hurting exporters with the increase in the New Zealand dollar.
"It's really hurting the exporters like Fisher and Paykel," he said.
Mr Gray said it will not affect the way he spends and saves.
"I wont be cutting back, absolutely not, not for that reason. As the New Zealand dollar goes up I'm more likely to spend," Mr Gray said.
Gwyn Claxton
Ms Claxton shares Dr Bollard's concern with the housing market. She said the market is strong partly due to immigration.
She said she would not like to see the OCR drive interest rates to the early 1980s levels.
"I wouldn't like to see it go sky-high. I remember when the rate was 20 per cent," she said.
But as long as interest rates remain around the 9 per cent mark then people will be able to maintain a mortgage, she said.
Ms Claxton said wage rates are not keeping young people in the country.
"I work at the University and I see our grads heading overseas. That's not too good for the country. It's not helping people stay in business but I don't know what you can do about that," Ms Claxton said.
Adam Davis
Being on a tight budget, the change in the OCR has no immediate effect on his day-to-day life, Mr Davis said.
But he said times are tough. "When I first went flatting I just ate noodles, just toast and coffee," Mr Davis said.
The change in the OCR "is not going to affect me that much. If I had shares in the market, but I don't,".
John Harris
Mr Harris said the change will be positive for his personal savings but it's not good for the country.
"I'm at the age where I've got the kids off my hands but it's bad news for exporters," he said.
"I was talking to my brother last night, he's in kiwi fruit but while the dairy industry is not doing too badly, the other sectors are not in the same boat," Mr Harris said.
