Adrian Orr

PHOTO: ROSS GIBLIN/STUFF Governor of the Reserve Bank of New Zealand, Adrian Orr will be making an emergency OCR announcement on Monday morning.

The Reserve Bank has cut the official cash rate to 0.25 per cent for the next 12 months.

The economy has been shaken by the impact of coronavirus, or Covid-19.

Significant restrictions on arrivals, introduced at the weekend, are expected to further affect the tourism sector in particular. Economist Cameron Bagrie has predicted the impact will be “tectonic”.


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