The Reserve Bank of New Zealand says the economic outlook remains highly uncertain, with the balance of health and economic risks tilted to the downside. Key notes: Says to undertake a review of the monetary policy committee remit in 2024 to consider lessons learnt, including the effectiveness of tools in response to covid-19.
RBNZ will remain at 0.25% until next year
LATEST MOVES OF THE RBNZ ON CORONAVIRUS COUNTERING
The Reserve Bank of New Zealand (RBNZ) Governor Adrian Orr said that they are focused on being operationally ready to implement negative rates if necessary, in his scheduled speech on Wednesday.
If the RBNZ had not eased monetary policy further, the NZD/USD exchange rate would be higher by 5-10%, Deputy Governor said while speaking alongside RBNZ Governor following the Financial Stability Report publication.
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November RBNZ DECISION
The Reserve Bank of New Zealand holds OCR steady at 0.25%, introducing FLP. RBNZ sees average OCR In 1Q 2021 at 0.25%. The FLP is a scheme that will be offering funds directly to the banks at a rate near OCR.
“The economic activity since August domestically and internationally has been more resilient than earlier assumed,” said the Reserve Bank of New Zealand (RBNZ) Governor Adrian Orr while speaking at the post-monetary policy ...
AUGUST RBNZ DECISION
The Reserve Bank of New Zealand (RBNZ) board members decided to leave the Official Cash Rate (OCR) unchanged at a record low of 0.25% for the third straight month in August, as much anticipated.
The Reserve Bank of New Zealand’s (RBNZ) monetary policy decision was accompanied by the minutes of the meeting, which showed that board members will continue to provide additional stimulus as necessary.
What is the RBNZ
The Reserve Bank of New Zealand is New Zealand's central bank. Like most central banks, the Reserve Bank is primarily a policy organisation, and exists to do three main things: formulate and implement monetary policy to maintain price stability, promote the maintenance of a sound and efficient financial system and meet the currency needs of the public.
Who is RBNZ's president?
Adrian Orr is the Governor of the Reserve Bank of New Zealand. He was appointed in March 2018. He is New Zealand born and bred, and primarily of Cook Island and Irish descent. Adrian graduated from the University of Waikato in 1983 with a Bachelor of Social Sciences, majoring in Economics and Geography. He also holds a Master’s Degree in Development Economics (Distinction) from the University of Leicester, England, graduating in 1985. Adrian has also served as Chair of the International Forum of Sovereign Wealth Funds, and Chair of the Pacific Pension and Investment Institute.
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The World Interest Rates Table
The World Interest Rates Table reflects the current interest rates of the main countries around the world, set by their respective Central Banks. Rates typically reflect the health of individual economies, as in a perfect scenario, Central Banks tend to rise rates when the economy is growing and therefore instigate inflation.