![RNZ - All Programmes artwork](https://is5-ssl.mzstatic.com/image/thumb/Podcasts113/v4/ea/02/ea/ea02ea81-8aba-e327-0ad5-e9a8427f9b58/mza_912229525009288126.jpg/100x100bb.jpg)
Banks told get ready for negative interest rates
RNZ - All Programmes
English - May 13, 2020 21:09 - 19 minutes - 17.5 MBNews Homepage Download Google Podcasts Overcast Castro Pocket Casts RSS feed
Previous Episode: 9am World, Pacific and Sports news for 14 May 2020
Next Episode: Bus operators says covid could put them out of business
For the first time ever the prospect of negative interest rates is drawing nearer with retail banks given til the end of the year to prepare. Yesterday the central bank held its cash rate at a record low of 0.25 percent but doubled its bond buying programme to $60 billion to keep money pumping through the economy and interest rates low, and signalled that banks need to prepare for negative interest rates. Kathryn talks with David McLeish Head of fixed income at Fisher Funds.