No negative rate for RBNZ, bond buying hiked to $60b

No negative rate for RBNZ, bond buying hiked to $60b
Rebecca Howard
The Reserve Bank has ruled out a negative cash rate for now – but it will buy up to $60 billion of government bonds.The central bank's monetary policy committee held the official cash rate at 0.25 percent today and said the current goal of monetary policy tools was to reduce borrowing rates for New Zealanders and “further OCR reductions at this stage would not be effective in achieving that.”As a result, it “reaffirmed its forward guidance that the OCR will remain at 0.25 percent until early 2021.”However, &ldq...

More Economy

NZers fear RBNZ's digital currency plan's privacy risks
Economy

NZers fear RBNZ's digital currency plan's privacy risks

The biggest concern about digital cash is the potential for Government control.

Rebecca Howard 10 Dec 2024
RBA set to keep rates steady while growth concerns linger
Finance

RBA set to keep rates steady while growth concerns linger

The central bank’s policy meeting is slated for Tuesday

Liquidated Sustainable Foods owed Kānoa $1.4m
Economy

Liquidated Sustainable Foods owed Kānoa $1.4m

Sustainable Foods joins the list of failed Kānoa-backed ventures.

Gregor Thompson 09 Dec 2024
Value of commercial property sales lowest in a decade
Economy

Value of commercial property sales lowest in a decade

The value of New Zealand commercial property has fallen 10% since the 2021 peak, after the sharp interest rate rises and weak economic activity of the past few years, Westpac says.The number of commercial property transactions has also fallen, with the value of sales dropping bel...

Maria Slade 09 Dec 2024