“We assume the overall economic impact of the coronavirus outbreak in New Zealand will be of a short duration, with most of the impacts in the first half of 2020, ” the Reserve Bank said yesterday after holding the official cash rate at 1%, a record low.
WELLINGTON: New Zealand’s central bank left interest rates unchanged and signalled it won’t need to cut them further unless the coronavirus has a bigger-than-expected impact on economic growth.
“We assume the overall economic impact of the coronavirus outbreak in New Zealand will be of a short duration, with most of the impacts in the first half of 2020, ” the Reserve Bank said yesterday after holding the official cash rate at 1%, a record low.
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