New Zealand central bank denies rumor of emergency meeting

WELLINGTON Thu Feb 24, 2011 10:19pm EST

A car, damaged by Tuesday's earthquake, remains under a collapsed rock wall in Christchurch February 25, 2011. REUTERS/Tim Wimborne

A car, damaged by Tuesday's earthquake, remains under a collapsed rock wall in Christchurch February 25, 2011.

Credit: Reuters/Tim Wimborne

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WELLINGTON (Reuters) - The Reserve Bank of New Zealand denied it was holding an emergency policy meeting in response to the Christchurch earthquake.

Rumors were circulating in financial markets that a meeting, which might have had implications for interest rates was underway.

"No, there is no emergency meeting," RBNZ spokesman Mike Hannah told Reuters.

Some analysts have suggested the damage caused by the force 6.3 quake in Christchurch on Tuesday justifies the RBNZ cutting its cash rate, currently sitting at 3 percent.

The RBNZ issues its next monetary statement on March 10.

(Created by Gyles Beckford)

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