RBNZ Deputy Governor Geoff Bascand says deposit rates could drop to zero and some savers might want to put their money to work elsewhere

From interest.co.nz Watch this video at https://www.cryptocraft.com/news/1002175-rbnz-deputy-governor-geoff-bascand-says-deposit-rates.

Reserve Bank deputy governor Geoff Bascand suggests at least some bank depositors might want to put their money to use elsewhere. Speaking to interest.co.nz after the Reserve Bank issued its latest Financial Stability Report on Wednesday Bascand, who is alsogeneral manager of financial stability, told interest.co.nz it's possible deposit rates could dropto zero. This is against the backdrop of the COVID-19 crisis and the Official Cash Rate (OCR) at just 0.25%. "We don't really anticipate negative deposit rates," Bascand said. He said negative ...