RBNZ Dep Gov Bascand says Bank will consider more stimulus if there are periods of virus resurgence, lockdowns

Author: Eamonn Sheridan | Category: Central Banks

Reserve Bank of New Zealand  Deputy Governor Bascand speaking

  • Says resurgence of virus in New Zealand is a big risk to its outlook
  • says RBNZ would have to consider more monetary stimulus if there are periods of resurgence and longer lockdowns
  • says banks are resilient and have good strength to get us through this period for now
  • RBNZ will probably do a combination of negative interest rates and 'funding for lending' programme if more stimulus needed beyond the QE extension announced on Wednesday
  • says sees a fairly soft, low growth world for a period of time
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As an aside, there were a further 4 cases reported in NZ today 

Kiwi $ has not shown much of a response to Bascand's remarks after rallying alongside other currencies against the USD a little earlier in the session.

Reserve Bank of New Zealand  Deputy Governor Bascand

Reserve Bank of New Zealand  Deputy Governor Bascand speaking
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