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发表于 2011-3-9 06:29 PM
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本帖最后由 newegg 于 2011-3-9 18:34 编辑
MM changed mind to cut rate
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New Zealand cuts key rate after quake
March 9, 2011, 5:50 p.m. EST
By Sarah Turner, MarketWatch
SYDNEY (MarketWatch) — The Reserve Bank of New Zealand cut its key cash rate by half a percentage point on Thursday in an effort to try and kickstart an economy rocked by two large earthquakes in less than six months.
The central bank cut its official cash rate to 2.5% with RBNZ Governor Alan Bollard saying, “signs that the economy was beginning to recover early in 2011 have been more than offset by the Christchurch earthquake.”
The city of Christchurch was rocked by an earthquake last month, which killed more than 150 people and caused widespread damage to infrastructure in the city.
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“While it is difficult to know exactly how large or long-lasting these effects will be, it is clear that economic activity, most certainly in Christchurch but also nationwide, will be negatively impacted,” said Bollard.
The New Zealand dollar /quotes/comstock/21o!x:snzdusd (NZDUSD 0.7358, -0.0006, -0.0815%) declined by about 0.4% to 73.62 U.S. cents after the decision was announced.
Economists had on average expected the RBNZ to cut rates less aggressively, with a quarter-point cut favored by most.
Speculation that the RBNZ would ease policy has been rife in the past week after the country’s prime minister said that rates would probably be cut.
The fact that “easing was openly discussed by Prime Minister John Key ahead of the decision somewhat compromises the independence of the Reserve Bank of New Zealand,” said economists at TD Securities on Thursday.
Some economists had said before the decision that there was no reason for the central bank to cut rates given the global backdrop of rising commodity prices and the inflation outlook.
“Economists did query the benign inflation outlook given global pressures on food, fuel etc., as well as the boost during the reconstruction phase next year,” said the TD Securities economists.
HSBC economists said after the decision that “while the rate cut may boost confidence in the short run, the risk is that rebuilding and broader economic recovery — partly due to strong increases in commodity prices — sees inflation hold persistently above the Reserve Bank of New Zealand’s target zone.” |
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狗仔卡
发表于 2011-3-8 11:17 PM
