RBNZ confident steep rate cut, government largesse will jump-start economy

Wed, 07 Aug 2019

By Rebecca Howard Aug. 7 (BusinessDesk) - New Zealand's central bank is confident its 50 basis point rate cut coupled with the government's spending programme will be enough to jump-start the economy, but economists are sceptical. "We believe the Reserve Bank is more hopeful than realistic about the scope for a pick-up in the domestic economy, with our forecasts showing that the government is struggling to get money out the door and businesses are unwilling to invest, even with cheaper credit on offer," Infometrics said in a note. The...

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