Reserve Bank governor rules out printing more money

New Reserve Bank governor Graeme Wheeler has ruled out printing more money, saying there is little sign it had worked overseas to lift growth.

In widely reported comments today, he said there was still scope to lower official interest rates, despite his decision yesterday to leave rates unchanged at 2.5%.

Otago Chamber of Commerce chief executive Peter McIntyre said he agreed with the comments on printing money.

But he was concerned monetary policy was not working to stimulate business growth.

He called for more thought to be put into policy, with a think tank a possible way to make that happen.

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