Business
What negative interest rates would mean for borrowers and savers – New Zealand Herald
There’s a row brewing in the corridors of financial power.
There’s a row brewing in the corridors of financial power. The Reserve Bank of New Zealand (RBNZ) recently advised the trading banks that the official cash rate might move from the barely positive into the negative.
Right now the RBNZ is holding off such a move in favour of other monetary stimulus measures. But the big banks strongly oppose negative rates, arguing they’ve had limited success overseas and that the country’s banking technology isn’t up to it.
For the central bank, however, it remains…
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