The Reserve Bank of New Zealand (RBNZ) held the official cash rate (OCR) steady at 0.25%, as markets expected, and reiterated rates would stay there until March 2021.
WELLINGTON: New Zealand’s central bank introduced a new funding programme that would reduce costs for lenders, while holding its benchmark interest rate at record lows and signalling its readiness to shift to negative rates to support the economy.
The Reserve Bank of New Zealand (RBNZ) held the official cash rate (OCR) steady at 0.25%, as markets expected, and reiterated rates would stay there until March 2021.
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