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English Says RBNZ Has Room to Respond on Inflation If Needed

New Zealand’s economy is positioned to withstand a period of low inflation because the central bank has scope to lower borrowing costs if required, Finance Minister Bill English said.

“Markets are reflecting an anxiety that economies with zero or negative interest rates can’t rely on central bank interventions as they have in the past,” English said in a speech in Auckland Thursday. “New Zealand is in a better position than most because the Reserve Bank still has room to move if needed.”