RBNZ hints at further stimulus by the end of the year

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The Reserve Bank of New Zealand’s monetary policy committee says it is prepared to lower interest rates beyond the zero lower bound in order to meet its inflation and employment targets.

In a statement published today (September 23), the MPC says it could provide additional stimulus to the economy if domestic conditions continue to weaken. A combination of a funding-for-lending programme and lower rates could be “effective”, policy-makers say.

“The committee agreed that a severe and prolonged

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