More easing needed in New Zealand: OECD
The Reserve Bank of New Zealand should cut its policy rate by a further percentage point to 2% in order to stimulate the domestic economy, said the Organisation for Economic Cooperation and Development (OECD) on Thursday. The views contrast with those expressed by the Reserve Bank last month.
"With the sharp projected deterioration in public finances, monetary policy should be the primary tool used to provide further stimulus," said the OECD in its Economic Survey of New Zealand.
The report said
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