The Reserve Bank's signalled New Zealand will need monetary support for a while longer
The Reserve Bank's signalled New Zealand will need monetary support for a while longer
24 February 2021
The Official Cash Rate remains unchanged at 0.25 per cent.
The central bank says the country's economy has picked up -- but several factors supporting it are likely to be temporary.
Governor Adrian Orr says the outlook's still highly uncertain due to Covid and they don't have a specific date the cash rate will change.
He says they wanted to make it clear that it'll take some time to get the confidence to do so.
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