New Zealand central bank holds rates at 0 25%, maintains QE msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
Analysis - The central bank will likely hold its official cash rate steady, and leave other key policies unchanged, Business Editor Gyles Beckford writes.
Another major retail bank has seen its profits surge driven by the strong economic rebound from Covid-19 and lack of bad debts.
BNZ chief executive Angie Mentis says the strength of the economic rebound was key to the profit improvement (File image).
Photo: RNZ / DOM THOMAS
The Bank of New Zealand s (BNZ) half-year cash profit rose to $660 million from $367m the year before.
Leaving aside one-off items, the net profit was up by a more modest 13 percent to $563m.
The bank, owned by Australia s NAB, had small increases in deposits and lending and managed a small increase in its margins.
5/4/2021 9:09:25 AM GMT
The central banks are listed below with their current state of play. The link for each central bank is included in the title of the bank and the next scheduled meeting is in the title too.
Reserve Bank of Australia, Governor Phillip Lowe, 0.10%, Meets 05 May
Falling behind the curve?
Once again, there were no surprises at the last RBA rate decision earlier this month. The Cash rate and the 3-year yield target were both kept at 0.10%. The level of bond purchases was unchanged too. The RBA was nearly through their first $100 billion AUD earlier this month and was starting through the second tranche of $100 billion.
RBNZ: On hold, with gentle optimism forexfactory.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forexfactory.com Daily Mail and Mail on Sunday newspapers.