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

Wed, 13 May 2020

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...

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