RBNZ revs up the printing press, doesn't rule out negative rates

Wed, 12 Aug 2020

The Reserve Bank kept the official cash rate at a record low 0.25 percent but expanded its large-scale asset purchase programme to $100 billion and reiterated that negative interest rates and foreign assets purchases are still on the table. "Reflecting a possible need for further monetary stimulus, the committee also agreed that a package of additional monetary instruments must remain in active preparation. The deployment of such tools will depend on the outlook for inflation and employment," the bank said in a statement. The decisions...

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Economy

ANZ increases cash profit as net interest margins get squeezed

ANZ New Zealand has reported a 4% increase in its half-yearly profit despite pressure squeezing its margins.The bank's cash profit increased to $1.15 billion in the six months to March, up from $1.1b in the same period last year, but stable compared to the second half of its...

Riley Kennedy 10:50am

Law & Regulation