Reserve Bank Governor Adrian Orr has responded to concerns that savers will lose after rate cuts by telling them to consider their investments and keep the pressure on their banks.
Speaking to the Herald this morning, Orr hit back at those claiming yesterday's double rate cut unfairly penalised savers with bank deposits.
"We absolutely acknowledge that monetary policy and interest rates are a blunt tool," he said. "The reason we've lowered interest rates is because we want people to be thinking about consuming and investing.
"[Savers] might have to think about investing in other assets if you want to get