New Zealand: Rbnz leaves rates unchanged at 0.25%
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Financial trend analysis
As economists had widely expected, the Reserve Bank of New Zealand (Rbnz) left interest rates unchanged at historical lows of 0.25% after cutting them by 75 basis points in March 2020 (previous cut of 50 basis points, dated August 2019).
As economists had widely expected, the Reserve Bank of New Zealand (Rbnz) left interest rates unchanged at historical lows of 0.25% after cutting them by 75 basis points in March 2020 (previous cut of 50 basis points, dated August 2019). However, the Central Institute in Wellington, which had indicated in the previous meeting that the increase in the cost of funds could arrive in September 2022, intervened in its stimulus plan. The asset buy-back program (decided to support the economy affected by the impact of the coronavirus pandemic), whose cap was raised in August 2020 from NZ$60 billion to NZD100 billion (from about €36 to €60 billion at the current exchange rate), will in fact be boycotted from Next July 23.
(RR – www.ftaonline.com)
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