New Zealand keeps official treasury rate unchanged at 0.25%


Wellington, May 26 (Xinhua) -Reserve Bank of New Zealand’s Monetary Policy Committee decides to keep its official treasury rate (OCR) at 0.25% and not change the funding of large asset purchases and lending programs Did.

According to a Central Bank statement on Wednesday, the Commission agreed to maintain its current stimulating financial parameters to meet consumer price inflation and employment targets.

The statement added that the outlook for the global economy continues to improve, continued fiscal and monetary stimulus are supporting the recovery, and New Zealand’s commodity export prices are benefiting from the recovery. growing global demand. It was.

However, differences in economic activity, both nationally and internationally, remain significant. He said the sustainability of the global economic recovery still depends on containing the COVID-19 pandemic.

“New Zealand’s economic growth slowed this summer following a previous strong recovery, but construction activity remains strong. Total employment is also resilient and fiscal spending continues to support domestic economic activity, ”he said. There is. “

However, tourism-related business activities continue to be affected by the lack of foreign visitors, the bank said.

He said it would take some time for the government’s new housing policy to observe the rise in house prices and, by extension, the degree of restriction in economic activity.

The Commission has agreed to maintain the current exciting financial framework until consumer price inflation stays close to the midpoint of the 2% annual target and employment reaches its highest sustainable level. He added that it does.

New Zealand keeps official treasury rate unchanged at 0.25%

Source link New Zealand keeps official treasury rate unchanged at 0.25%

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