Global economic outlook not as dark as in August: RBNZ

By Jenny Ruth | Fri, 15 Nov 2019


The outlook for the economy isn't as dark as it was in early August, says Reserve Bank chief economist Yuong Ha.That was one of the factors that persuaded the central bank's monetary policy committee, of which Ha is one of RBNZ's four members, against cutting interest rates again last Wednesday.The committee, which also includes three members from outside the bank, left the official cash rate at its record low of 1 percent after cutting 50 basis points at its previous meeting on Aug. 7."On the international side, when we were sitting here makin...