“Confident around fiscal spending that will happen and will shift the burden of monetary policy”, said Reserve Bank of New Zealand (RBNZ) Governor Adrian Orr while addressing the post-monetary policy decision press conference on Wednesday.
The RBNZ left the Official Cash Rate (OCR) unchanged at 1.0% in the last hour, although surprised the markets by providing a hawkish shift in its policy guidance. The central bank did not forecast any rate cut this year.
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Looking at assumption of around 6-week disruption due to coronavirus.
See the main economic effects of coronavirus going through trade, finance and broader confidence channels.
More to come ….
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