Reserve Bank isn't heading to zero - Orr

Mon, 16 Mar 2020

New Zealand’s Reserve Bank has no plans to cut its key interest rate below 0.25 percent, governor Adrian Orr said after the monetary authority slashed it by a record 75 basis points earlier today.“We have committed to keep the official cash rate at 0.25 percent for at least one year" and the monetary policy committee did that for two reasons, he said. “The first one is to give people who are pricing interest rates in the market certainty around our behaviours in the period.”Orr said the second reason was to highlight to the banks and gener...

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