Finance
Explore the latest finance news by BusinessDesk's team of reporters around New Zealand.
Finance
Orr's blunt message to banks more important than rate cut
Reserve Bank governor Adrian Orr believes getting the country's largest banks to use the "enormous headroom" in their balance sheets is more important to help New Zealand businesses and households through the coronavirus disruptions than today's historic interest rate cut."I thin...
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Finance
Reserve Bank isn't heading to zero - Orr
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 y...
Finance
Coordinated rate cut to combat outbreak whips kiwi around
The Federal Reserve in the United States and a raft of other central banks in major economies have acted in concert to enhance liquidity in the global financial system and the Fed has slashed its key interest rate to zero and resumed printing money. The New Zealand dollar was...
Finance
Major banks rush to pass on rate cut to customers
Westpac was the first of the major banks to promise to fully pass on the Reserve Bank's slashing of its official cash rate cut in reaction to what one expert is calling the one-in-200 year event the central bank had been modelling.As well as cutting the OCR from 1 percent to 0.25...
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