Prolonged Stimulus Needed to Meet Inflation, Employment Goals, RBNZ Says

Prolonged Stimulus Needed to Meet Inflation, Employment Goals, RBNZ Says

WELLINGTON, New Zealand—New Zealand’s central bank said prolonged monetary stimulus would be necessary to meet its inflation and employment goals during economic recovery from the Covid-19 pandemic. The Reserve Bank of New Zealand, as expected, left its Official Cash Rate unchanged at 0.25% on Wednesday and maintained a 100 billion New Zealand dollars (US$73.45 billion) target for its market purchases of New Zealand government bonds.
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