RBNZ’s Hawkesby: Rate cut gives sufficient time to reassess situation
|RBNZ Assistant Governor Hawkesby said on Monday, the rate cut and other measures announced give the Bank sufficient time to reassess the situation.
Additional quotes
Message received from banks was they were not all ready for negative interest rates.
Stopping at 0.25% gives signal that RBNZ not looking to go to zero or below zero.
RBNZ will not announce a limit or cap on any particular unconventional tool.
Evidence suggest this is a global and domestic economic shock of medium-term nature.
- Breaking: RBNZ’s Orr: Not contemplating negative interest rate at this point, Kiwi drops
- Breaking: Reserve Bank of New Zealand sets official cash rate at 0.25 pct
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