Banks must act courageously - RBNZ's Orr

Wed, 02 Sep 2020

The central bank has been effective in lowering interest rates but trading banks must step up to the plate and act “courageously,” said Reserve Bank governor Adrian Orr.The governor reiterated the central bank is still looking at a variety of tools, including cutting the official cash rate - currently at 0.25 percent - to below zero.“We strongly believe that the best contribution we can make to our monetary and financial stability mandates is ensuring we head off unnecessarily low inflation or deflation, and high and persisten...

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