RBNZ can bide its time as govt provides targeted assistance

Thu, 12 Mar 2020

The government is already providing targeted assistance to help businesses weather the impact of covid-19, giving the Reserve Bank time to evaluate before making a move, said deputy governor Geoff Bascand.“We want to be considered and think through this a little more,” he told BusinessDesk in response to a question about why the central bank didn’t carry out an emergency rate cut earlier this month. The US Federal Reserve cut its federal funds rate half a percentage point to a 1-to-1.25 percent band out of cycle and central banks around the wor...

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