New Zealand finance minister
- says the government will to set up NZD $6.25 bn business financing guarantee scheme
- govt to carry 80% of the credit risk for scheme while remainder will be carried by banks
- RBNZ to reduce banks' core funding ratios from 75% to 50% to help make credit available
Also:
- retail banks have agreed to provide mortgage repayment holiday scheme for those affected by COVID-19
NZD has been strongly bid the whole session - hopes of a deal in the US Congress on the corv coronavirus economic relief measures is boosting nearly everything at the expense of the USD today. NZD adding a little more now
