The Reserve Bank of New Zealand has put out a press release that state that Te Pūtea Matua today announced that it will be removing some of the temporary liquidity facilities put in place during the COVID-19 pandemic.
The RBNZ is seen keeping the policy rate at 0.25% at its meeting later this week, noted Economist at UOB Group Lee Sue Ann. “For now, we think that negative interest rates are a risk but an increasingly low one.”
Orr said that the central bank is solely focussed on inflation and employment mandates. He says the central bank is in a sound position to continue to meet its mandate in the face of the covid-19 induced economic shock.
The Reserve Bank of New Zealand has left rates on hold at 0.25%, as widely expected and there has been little reaction in the market so far.
The Reserve Bank of New Zealand has put out a press release that state that Te Pūtea Matua today announced that it will be removing some of the temporary liquidity facilities put in place during the COVID-19 pandemic.
Amid the relentless surge in yields, the Reserve Bank of New Zealand (RBNZ) has stepped up its weekly target of bond purchases. The kiwi central bank announced that it will buy NZD630 million of government bonds next week.
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.
The official website, on Twitter and YouTube
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.
Adrian official RBNZ profile
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.