新西蘭意外宣佈降息25個基點

New Zealand’s central bank unexpectedly cut interest rates to a fresh record low citing slower growth in China, declining inflation expectations and the need for a weaker local currency to help exporters as dairy prices plunge.

新西蘭央行(RBN)出乎意料地把利率下調至創紀錄的新低水平，提到的理由包括中國增長放緩、通脹預期下降，以及有必要在乳製品價格大跌之際，壓低本幣匯率提振出口。

The Reserve Bank of New Zealand on Thursday lowered its benchmark interest rate by 25 basis points to 2.25 per cent, defying expectations it would hold steady, and said further easing may be necessary.

週四，新西蘭央行將基準利率下調25個基點，至2.25%，這讓該國將維持利率不變的預期化爲泡影，並表示可能有必要繼續放鬆貨幣政策。

That prompted a sell-off in the New Zealand dollar, which fell 1.1 per cent to US$0.6673 against its US counterpart and 2 per cent against the Australian dollar.

該消息導致新西蘭元遭到拋售，新西蘭元兌美元匯率下跌1.1%，至1澳元兌換0.6673美元，新西蘭元兌澳元匯率下跌2%。

“The outlook for global growth has deteriorated since the December monetary policy statement, due to weaker growth in China and other emerging markets, and slower growth in Europe,” said the RBNZ in its statement.

“由於中國等新興市場增勢更加疲軟，加上歐洲增長放緩，自去年12月貨幣政策聲明以來，全球增長前景已然惡化，”新西蘭央行發表聲明稱。

The unexpected rate cut comes ahead of a decision on rates later on Thursday by the European Central Bank, which is expected to ease monetary policy further in a bid to prevent deflation in the eurozone.

此次意外降息之後，歐洲央行(ECB)將在週四晚些時候做出一項利率決定。外界預計，歐洲央行將推出更多寬鬆政策，以防止歐元區出現通縮局面。

New Zealand’s economy is being buffeted by a sharp fall in dairy prices, which plummeted 65 per cent in US dollar terms between February 2014 and August 2015 due to reduced Chinese demand, sanctions on Russian imports and increasing supply.

新西蘭經濟正遭受乳製品價格大幅下跌的猛烈衝擊。由於中國需求減少、俄羅斯進口禁令和供應增多，2014年2月至2015年8月期間，以美元計價的新西蘭乳製品價格大跌了65%。

In March 2014 New Zealand became the first central bank in the developed world to raise interest rates following a US decision to begin tapering its asset purchasing programme introduced during the financial crisis. At the time dairy prices were near record highs, with exports to China — New Zealand’s biggest trading partner — surging by 45 per cent to NZ$9.9bn in 2013.

2014年3月，新西蘭宣佈提高利率，成爲追隨美國做出的逐漸退出在金融危機期間引入的資產購買計劃的決定的第一個發達國家。當時，乳製品價格正接近歷史最高點，2013年新西蘭對其最大貿易伙伴國中國的出口額大增45%，達到99億新西蘭元。

RBNZ governor Graham Wheeler told journalists on Thursday that weaker growth in China posed a risk to New Zealand’s growth and inflation outlook. “If China had a very significant and prolonged devaluation, it would in essence spread deflation around the world,” he said.

週四，新西蘭央行行長格雷厄姆•惠勒(Graham Wheeler)對記者們表示，中國增長放緩對新西蘭的增長和通脹展望構成了威脅。“如果中國貨幣大幅貶值，並且延續更長時間，那麼這實際上使通縮蔓延至全世界，”他說。