RBNZ says it may still need to do more

Wed, 24 Jun 2020

The Reserve Bank may need to do more to support the local economy, saying gains from New Zealand's success in beating back covid-19 might not last. “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,” the central bank said. The Reserve Bank maintained the size of its quantitative easing programme at $60 billion and kept the official cash rate at 0.25 percent today. However, the monetary policy committee said it's “pre...

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