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27 May 2020 14:54
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  •   Home > News > Business

    The Reserve Bank is being urged to take the Official Cash Rate below zero

    The Reserve Bank is being urged to take the Official Cash Rate below zero


    The central bank will buy back up to 30 billion dollars of Government bonds over the next 12 months, to stimulate growth and reduce interest rates.

    Former Reserve Bank economist Michael Reddell says policies have been moving in the right direction but much too slowly and not aggressively enough.

    He says that's true of the Reserve Bank, which should have been cutting interest rates to negative.

    Reddell says it tried quantitative easing yesterday but it didn't make much difference.

    © 2020 Newstalk ZB, NZCity


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