On the instructions of the New Zealand government, the New Zealand Central Bank has taken positive steps, implementation, and new measures in order for the New Zealand economy to recover once again from drifting into the abyss, especially after the current crisis in many countries of the world due to the Corona virus and its impact on the economy in many countries
On the sidelines of this meeting, which was held this morning, the New Zealand Central Bank made these decisions in order to support the New Zealand economy, and the purpose is to help banks, finance and financial leasing companies overcome the repercussions of the crisis on the New Zealand economy. .
According to a reporter for the "Newspaper of Victory" in New Zealand, a circular issued by the New Zealand Central Bank was circulated through various social media platforms, where the New Zealand Central Bank decided to take a set of incentive measures as follows:
1- The New Zealand Central Bank asked all banks in New Zealand to refrain from selling or executing securities against loans and financing provided to clients, and this decision is made if a request for disposal is made by the customer in New Zealand.
2- Reducing the basic interest rate in all banks in New Zealand and the discount rate in those for banks by a quarter of a percentage point to 2.5% from 2.75% to boost growth in the New Zealand economy.
3- Currently, the New Zealand interest rate is 2.5% compared to 2.75% in the previous version.
4- All banks in New Zealand must, in the current period, especially the country, pass through all requests to postpone the payment of installments and interest / profits of loans affected by the repercussions of the current situation in the state of New Zealand, especially small and medium enterprises, and this period is six months with immediate effect and does not affect Its credit rating.
5- Reducing deposits temporarily from 2.00% to 1.50% in all New Zealand banks, and the one-month deposit rate from 2.45% to 2.20%.
6- Lending facilities of 4.00% for all bank customers, both citizens and companies, in New Zealand.
7- All loans related to financing government projects in New Zealand for the current year 2020 AD are granted from the credit rating for a period of up to six months, according to the instructions provided by the New Zealand Central Bank in the circulars issued at a later time.
8- Taking into consideration in general the reduction of the fees currently imposed on all banking services in New Zealand and not adding any new fees during the end of the current year 2020 AD until further notice.
9- Reducing the interest rate on all New Zealand banks to deduct New Zealand's government treasury bills by 100 basis points to one percent.
10 - Reducing the New Zealand interest rate on foreign exchange swaps by 50 basis points, and raising the maximum period for currency exchanges to six months.
At present, the state of New Zealand is in a state of economic stagnation, especially since companies are currently closed due to the Corona virus, which negatively affected the economy.
New Zealand is trying hard to make a comprehensive survey of all its citizens, in an effort to eradicate this epidemic, and the latest of which was its decisions to close all schools and suspend schooling at the present time and grant reception to any expatriates abroad and the closure of airports in an attempt to tackle the deadly Corona virus.