ASB Bank, which operates in New Zealand and is owned by Commonwealth Bank of Australia, now foresees the Reserve Bank of New Zealand (RBNZ) cutting the overnight cash rate (OCR) or the benchmark interest rate by 75 basis points to -0.5% by early 2021. The forecasts for deeper rate cuts has come a week after the central bank delivered a more dovish than expected monetary policy and raised its large-scale asset purchase program (LSAP) to $100 billion. The OCR is currently held at a record low of 0.25%. The central bank has a dual mandate of maintaining price stability or a moderate inflation and a solid and efficient financial system. Interest rates were reduced sharply to record lows in the first half of this year to counter the coronavirus-induced financial market instability and recession fears. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next 9 new confirmed coronavirus cases in New Zealand FX Street 2 years ASB Bank, which operates in New Zealand and is owned by Commonwealth Bank of Australia, now foresees the Reserve Bank of New Zealand (RBNZ) cutting the overnight cash rate (OCR) or the benchmark interest rate by 75 basis points to -0.5% by early 2021. The forecasts for deeper rate cuts has come a week after the central bank delivered a more dovish than expected monetary policy and raised its large-scale asset purchase program (LSAP) to $100 billion. The OCR is currently held at a record low of 0.25%. The central bank has a dual mandate of maintaining price stability or… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
