Free Trial

MNI POLICY: RBNZ On Hold, Sees Downside........>

RBNZ
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
sales@marketnews.com for access.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.