The Reserve Bank's expected to leave the Official Cash Rate unchanged at 0.25 percent this afternoon
The Reserve Bank's expected to leave the Official Cash Rate unchanged at 0.25 percent this afternoon
24 June 2020
But some economists continue to speculate just how far away we may be from negative interest rates.
NZIER principal economist Christina Leung says banks have been told to prepare for a negative OCR within the next year.
Industry researchers IBISWorld say a negative cash rate would weaken the dollar - boosting export industries like dairy and wine.
But, it also points out the policy has had only a limited effect in some European countries historically .. while also reducing banks' revenue.
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