RBNZ slashes rate to 0.25% for at least 12 months

Mon, 16 Mar 2020

The Reserve Bank of New Zealand slashed its benchmark interest rate from 1 percent to a record low 0.25 percent in a bid to shield the economy from the impact of the covid-19 virus and said they will stay there for least 12 months.“The negative economic implications of the COVID-19 virus continue to rise warranting further monetary stimulus,” it said in a statement, which warned it will consider quantitative easing - printing money - before cutting rates again.Today's is the largest cut the RBNZ has ever made since it began using the OCR as its...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Markets Market Close

NZ sharemarket finishes flat, down 0.1%

The S&P/NZX 50 Index closed at 13,480.43, down 19.42 points or 0.14%.

Graham Skellern 25 Nov 2025

Policy

Govt proposes major council overhaul

Regional councillors to be deposed, mayors empowered, and amalgamation put on the table.

Thomas Manch 25 Nov 2025

Infrastructure

Govt drops Cook Strait rescue vessel plan

A detailed business case raised costs from $80m to $259m in just four months.

Thomas Manch 25 Nov 2025

Govt drops Cook Strait rescue vessel plan

Sponsored

Spark Accelerate: Are you ready for exponential AI growth?

Spark

Sponsored

Cybersecurity skills gap leaving Kiwi businesses at risk - report

A cybersecurity skills shortage is creating additional cyber risks, according to a new global report.

Fortinet

More Economy

Economy

Co-operative Bank remediates thousands of customers

Co-operative Bank has remediated a total of $7.2 million across almost 50,000 customers for charging higher fees than it should have and may yet have to pay a court-imposed fine.The Commerce Commission said the charging of higher fees breaches the Credit Contracts and Consumer Fi...

Andy Macdonald 25 Nov 2025