Coordinated rate cut to combat outbreak whips kiwi around

Mon, 16 Mar 2020

The Federal Reserve in the United States and a raft of other central banks in major economies have acted in concert to enhance liquidity in the global financial system and the Fed has slashed its key interest rate to zero and resumed printing money. The New Zealand dollar was whipsawed by the move, having slumped to an 11-year low after the Reserve Bank this morning slashed its own benchmark rate and said its next step will be quantitative easing. The US federal funds rate had previously targeted a range of 1 percent to 1.25 percent and w...

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