RBNZ offers a preview into its thinking ahead of MPS

Wed, 06 May 2020

The Reserve Bank of New Zealand offered an insight into next week's monetary policy statement and projections this morning, estimating $10 billion of lost production under the strictest lockdown restrictions. It estimates gross domestic product sank around 37 percent during four weeks of alert level 4 lockdown, reducing annual GDP by 3.2 percent.Meanwhile, four weeks under level 3 would mean a $5 billion loss in production, reducing annual GDP by 1.7 percent, it said in a research paper.According to the bank, the estimates are slightly...

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