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Reuters
Reuters
Business

RBNZ governor says assuming around six-week disruption from coronavirus

FILE PHOTO: Reserve Bank of New Zealand (RBNZ) Governor Adrian Orr is pictured during an interview at the bank in Wellington, New Zealand, April 16, 2019. REUTERS/Charlotte Greenfield

The Reserve Bank of New Zealand (RBNZ) Governor Adrian Orr said on Wednesday that the bank was assuming that the impact from the coronavirus epidemic will ease in about six weeks.

"We are looking at around six weeks hiatus disruption...," Orr said at a news conference, adding that this was based on advice from other government agencies.

The working assumption is that the travel ban to China is lifted and there will be some normalisation over March, he said.

The bank earlier left rates unchanged at a record low of 1.0%.

(Reporting by Praveen Menon)

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