RBNZ holds QE at $60b, cash rate at 0.25%

Wed, 24 Jun 2020

The Reserve Bank of New Zealand held its quantitative easing programme at $60 billion and kept the official cash rate on hold at 0.25 percent. While New Zealand has contained the spread of covid-19 “locally for now” the central bank underscored that “significant economic challenges remain” and the balance of economic risks remain to the downside. “The severe global economic disruption caused by the covid-19 pandemic is persisting, leading to lower economic activity, employment, and inflation abroad and in New Zealand,” it said. It also...

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