Economics
RBNZ Says Journalist Leaked Surprise Rate-Cut Move in March
- `A serious and disappointing' breach of trust, Wheeler says
- RBNZ to discontinue embargoed lockups for media, analysts
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New Zealand’s central bank said a journalist leaked its decision to cut interest rates last month before the official release time, although there is no evidence the information had any impact on financial markets.
A Newshub MediaWorks reporter sent information about the surprise cut to the official cash rate from a media lockup on March 10 before an embargo was lifted, the Reserve Bank of New Zealand said in a statement Thursday, citing the results of an independent investigation by Deloitte. This information was then passed on by another person in Newshub to an economics blogger, it said.