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RBNZ: MNI POLICY: RBNZ On Hold, Sees Downside Coronavirus Risks
- The Reserve Bank of New Zealand kept interest rates unchanged Wednesday as it
sees growth accelerating later this year, although it sees the emerging threat
to both the domestic and global economy from the coronavirus outbreak. The Bank
has cited an expected acceleration of economic growth later this year in its
decision to leave its Overnight Cash Rate (OCR) unchanged at a record low 1.0%.
As expected, the Monetary Policy Committee left the benchmark Official Cash Rate
at 1.00%, pointing to falling unemployment and inflation moving to 1.9%, close
to midway between the Bank's 2% to 3% target.
- For full story see MNI Main Wire at 01:50 GMT 02/12 or contact for access.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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