Reserve Bank isn't heading to zero - Orr

Reserve Bank isn't heading to zero - Orr
Rebecca Howard
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...

More Finance

IRD issues warning to crypto holders ahead of audits
Finance

IRD issues warning to crypto holders ahead of audits

The IRD has identified 227,000 crypto-asset users in NZ and contacted those at risk.

Staff reporters 04 Jul 2024
$1.65b project to simplify switching banks a 'flop'
Finance

$1.65b project to simplify switching banks a 'flop'

Open banking has hindered competition rather than helping it, says lobby.

AAP 04 Jul 2024
MTF to investigate bullying claims
Finance Exclusive

MTF to investigate bullying claims

Chief executive Chris Lamers said he takes the claims 'very seriously'.

Murray Jones 04 Jul 2024
Payments NZ could play key role in open banking standards
Finance

Payments NZ could play key role in open banking standards

A draft decision proposes an 18-month approval, rather than the five years requested.

Ben Moore 01 Jul 2024