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
