Reserve Bank Governor Adrian Orr. Photo: NZMEThe Reserve Bank has opted to keep its official cash rate unchanged at 1.0 per cent but said the outbreak of coronavirus in China was "a downside risk" to the local economy. Reserve Bank Governor Adrian Orr said monetary policy had time to adjust to the impact of coronavirus, if needed. "However, the Covid-19 (coronavirus) outbreak is an emerging downside risk." The Reserve Bank said there was a risk that the impact will be larger and more persistent.

Source: Otago Daily Times February 12, 2020 01:18 UTC