Banks will have another channel to fund corporate clients.
'Swap rates, funding rates and mortgage rates are all lower today'.
New tools will help stabilise local market function.
The S&P NZX 50 has opened down 4.3 percent
"The fear factor is going through the roof this morning."
The New Zealand sharemarket has opened sharply lower after the Reserve Bank slashed its official cash rate.
Investors are facing the possibility of a global recession that could be prolonged.
'The market goes up and down like an escalator: we're in that elevator fall'.
NZ share prices plummet after US major indexes fall almost 10 percent overnight.
"It's mass selling across the board."
New Zealand's exchange drops 5 percent.
Fall comes as WHO declares virus a pandemic.
A significant drop in NZ share prices reflects global bloodbath.
Officials and companies in Britain, France, Italy and the United States are struggling to deal with a steady rise in infections.
World shares have fallen five days in a row - and it's hitting our KiwiSaver investments.
New Zealand's market hasn't been left unscathed.
Data shows the most highly valued skills in the country.
It's inverted right before every recession in the past 50 years.
Weak market environment may require re-set of investment expectations.
The Australian expert replaces Gabriel Makhlouf.