New Zealand’s central bank delayed a planned interest rate rise on Wednesday after a Covid-19 outbreak sparked a nationwide lockdown.
Health officials said seven cases of the highly infectious Delta strain had been detected in Auckland over the past 24 hours. But they warned that there were probably between 50 and 120 cases already in the community and that it was critical to identify them as soon as possible to contain the outbreak.
The Reserve Bank of New Zealand had been widely tipped to become the first central bank in the developed world to raise rates during the pandemic. But its monetary policy committee said on Wednesday that it would keep rates on hold at 0.25 per cent because of the lockdown.
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