Reserve Bank governor Adrian Orr. Photo: RNZ / Dom Thomas
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.
