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Adrian Orr: what more can the central bank do?
Nine To Noon
English - March 16, 2020 20:08 - 28 minutes - 26.1 MB - ★★★★★ - 8 ratingsNews Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Previous Episode: Public solidarity in the time of social isolation
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The Finance Minister Grant Robertson will unveil a multi-billion dollar rescue plan later today, to help combat the deepening impact of the Covid-19, expected to be worse than the Global Financial Crisis. Yesterday the Reserve Bank cut the official cash rate to an all time low of zero-point-two-five percent (0.25%) and says that will remain in place for at least the next 12 months.It was a coordinated approach with central banks around the world. In the United States the benchmark Federal Reserve's target interest rate is now between zero and nought-point-two percent. What further moves can our central bank now make? Could zero or negative interest rates be on the cards? Kathryn talks with Reserve Bank Governor, Adrian Orr.