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VIEW: HSBC note that "the RBNZ left its cash...>

RBNZ
RBNZ: VIEW: HSBC note that "the RBNZ left its cash rate unchanged, as expected,
but clearly stated that it is willing and able to deliver more support if
needed. The RBNZ could be called the 'kitchen sink' central bank, with all
options on the table, including negative rates, foreign bond purchases, an
expanded LSAP or direct debt monetisation. Our central case is that, with the
virus eliminated locally, a 'V-shaped' recovery expected and a fiscal 'bazooka'
loaded, negative rates will not be needed."
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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