New Zealand slashes rates to record low

New Zealand slashes rates to record low
뉴질랜드가 금리를 최저치로 낮췄다.
By Peter Smith in Sydney

Published: January 29 2009 02:38 | Last updated: January 29 2009 02:38

New Zealand’s central bank cut its official rate by a larger than expected 1.5 percentage points on Thursday when it warned the country was likely to remain in recession for much of 2009.
뉴질랜드가 경기침체때문에 예상치를 훨씬 웃도는 1.5%를 낮췄다.

The aggressive move, which matched a similar sized reduction in December, came less than a day after international organisations warned the world economy in 2009 would suffer its worst performance for more than 60 years.
2009년이 최악일 것이라는 예상 후에 나온 강력한 조치다.

In reducing the official cash rate from 5 to 3.5 per cent, Alan Bollard, Reserve Bank of New Zealand governor, highlighted the “very negative” news that had come recently from the country’s leading trading partners.
5%에서 3.5%로 낮춘 가운데 은행관계자는 매우 부정적인 소식이라고 말했다.

“The global economy is now in recession and the outlook for international growth has been marked down considerably since our December Monetary Policy Statement,” he said, adding there was “huge uncertainty about the timing and strength of a recovery”.
세계경제가 침체상황에 있으며 세계성장율은 하락하고 있다. 언제 얼마나 회복할 수 있을지도 불확실하다.

Mr Bollard also forecast that New Zealand was likely to stay in recession “for the first half of this year”.
이번년도 전반기 동안은 침체기가 지속 될것

New Zealand’s economy began contracting at the beginning of 2008 and many economists expect it to remain depressed in 2009.
경제전문가들도 2009년에 침체가 계속될 것으로 예상했다.

The central bank has embarked on successive rounds of rate cuts since the official cash rate peaked at 8.25 per cent in the middle of last year.
작년 중반기 8.25%금리를 찍은 뒤 중앙은행은 금리를 성공적으로 내렸다.

However, Thursday’s move surprised the market which had forecast a one percentage point reduction.
그러나 목요일의 조치는 1%하락을 예상한 시장을 놀라게 했다.

Mr Bollard suggest that additional cuts were likely.
총재는 추가인하가 있을 것이라고 말했다.

“We would expect any further reductions to be smaller than those seen recently,” he said, adding that future decisions would be based on “emerging developments in the global and domestic economies and the response to policy changes already in place”.
신흥시장과 국내경제 정책에 대한 반응을 보고 추가인하여부를 결정할 것이며 그 수치는 이전보다는 작을 것.

The deterioration in New Zealand’s economy comes only months after John Key was elected as the country’s new prime minister.
존 키가 총리로 선출된지 한달만에 뉴질랜드 경제가 붕괴되었다.

Since the National party’s victory, New Zealand’s economy has continued to shrink. September quarter gross domestic product contracted by 0.4 per cent, the third successive quarterly fall in the country’s GDP.
국민당정권이 들어선 이후 경제는 나락에 떨어졌다. 2008년 3/4분기는 0.4%상승했고, 이 후에는 GDP가 감소했다.

New Zealand has also suffered from rising unemployment and a deterioration in government finances.
또한 뉴질랜드는 실업율상승과 정부재정파탄으로 고생을 겪고 있다.

Copyright The Financial Times Limited 2009