RBNZ Governor Adrian Orr said in a article said the central bank recognized the “threat of COVID-19 to our collective well-being “. It will “keep monetary support going for as long as necessary through QE and other tools.”
He also noted that there are “some very hard yards ahead” while “some businesses will fail, unemployment will rise”. But “many firms will make it through this period through working with their bankers and their own team, and understanding and utilising the Government’s significant and expanding support packages”
He urged New Zealanders to “support each other, think beyond just the next six months or more, and visualise the role you can and will play in the vibrant, refreshed, sustainable, inclusive New Zealand economy.
