New Zealand's central bank is all but certain to hold rates at record lows ...
WELLINGTON - New Zealand’s central bank is all but certain to hold rates at record lows of 1.0% at its policy review next week as domestic risks dissipate, but an easing could come soon, not least because a virus epidemic in China has raised growth risks.
The rate cuts helped lift inflation in the previous quarter closer to the 2% midpoint of RBNZ’s 1-3% target range, while the unemployment rate dropped. “They will acknowledge the human impact of the tragic new coronavirus, with cautious language about possible risks to the economic outlook,” she said.
New Zealand’s exports of goods and services to China were worth NZ$16.6 billion for the year ended September 2018, higher than to Australia and almost double the sales to the United States, according to Statistics New Zealand.
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