Covid case halts RBNZ rate hike plans
Central bank had been expected to raise rates but lockdowns signal further uncertainty
New Zealand’s central bank chose to leave interest rates at record lows today (August 18) as the country entered lockdown following a single Covid-19 case in the community.
In a statement, the RBNZ’s monetary policy committee said it would maintain the official cash rate at 0.25% “for now”. The MPC stressed its decision was made in the context of the government’s Covid-19 restrictions, which were implemented earlier this week.
“The committee agreed that their least regrets policy stance is
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