Sign up now
to receive this report by email.
to receive this report by email.
Business Weekly Economic Report
Easing back on the throttle
Monday, 16 March 2009
-
The Reserve Bank’s 50bp OCR cut was at the modest end of expectations, and also gave a very clear signal that it is not prepared to cut the OCR much further.
-
The RBNZ will be taking a softly-softly approach to cutting interest rates from now on, cutting by 25bp each meeting. But the risks remain skewed to the downside. The RBNZ is forecasting a much earlier end to the recession and a very rosy rebound compared to most other forecasters.
-
RBNZ Governor, Alan Bollard, revealed to the New Zealand Parliamentary Finance and Expenditure Select Committee on 4 March, the RBNZ were in the process of reducing the RBNZ’s foreign exchange position from $5 billion down to a benchmark rate of $1 billion
Read the full PDF report.
In order to read these documents you will need to have Adobe Acrobat Reader. If you do not have this software installed on your computer, please click on the Adobe link below to download it. (The software is free of charge).
Report Prepared by:
Jane Turner
ASB Economist
Phone: +64 9 374 8185
Fax: +64 9 302 0992
We take your privacy seriously, and will not pass on your personal information without your permission. To view our privacy policy click here. Important Disclaimer:
|
|||||||||
