RBNZ says prolonged monetary stimulus still necessary

The central bank also left its large-scale asset purchase programme unchanged at $100 billion. Reserve Bank governor Adrian Orr.

Rebecca Howard

Wed, 24 Feb 2021

The Reserve Bank of New Zealand reiterated prolonged monetary stimulus remains necessary and held the official cash rate at a record low 0.25%. The central bank also left its large-scale asset purchase programme unchanged at $100 billion. “The economic outlook ahead remains highly uncertain, determined in large part by any future health-related social restrictions. This ongoing uncertainty is expected to constrain business investment and household spending growth,” members of the Monetary Policy Committee said.The committee ag...

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