The Deputy Governor of the Bank of New Zealand points out to take measures for the COVID-19 epidemic
Geoff Bascand, deputy governor of the Bank of New Zealand, said that if the local COVID-19 pandemic really resumes, it will pose a great threat to the economic outlook. By then, the central bank will have to consider introducing more stimulus measures. It is possible to adopt a combination of negative interest rates and tools to reduce loan costs to further reduce financing costs. In response to the recurrence of new coronavirus cases in New Zealand, the local record of 102 consecutive days without infections was terminated. The government has quickly implemented lockdown measures in the largest city, Auckland, and re-implemented social distancing regulations across the country this week to prevent the spread of the epidemic.
The Democrats say Trump’s COVID-19 relief plan is a “fantasy”
US President Trump stated that the Democratic Party is unwilling to negotiate a new bailout plan because it has rejected “ridiculous” and unrelated spending requests from the other side. As for the Democrats, it refers to the Republicans’ insistence on the scale of one trillion dollars and refuses to make concessions. Since the negotiations between the White House and the Democratic leaders broke down last Friday, they have not met to discuss the new bailout plan and continue to blame each other. Although President Trump signed an executive order last Saturday to bypass Congress and extend some relief measures, some Democratic congressmen accused Trump’s actions as illegal and that the “shrinked version” of the COVID-19 relief plan was just a “fantasy”, not a lasting solution. The market’s uncertainty about the rescue plan has increased, making the US exchange rate weak.
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