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Audio, Radio New Zealand

As the nation prepares for lockdown, Christchurch's leaders says their city is prepared. Over the past ten years Christchurch has dealt with it's fair share of crisis, from earthquakes, Port Hills fires, the March 15 terror attacks, flooding, and a gas explosion. While Covid-19 has a global impact, some Cantabrians say their past experience will help them get through. Eleisha Foon reports.

Audio, Radio New Zealand

The Reserve Bank has cut its benchmark interest rate, to support the economy against the impact of the Covid-19 virus. The central bank cut its official cash rate to 0.25 percent from one percent. Governor Adrian Orr says the cut is necessary to support businesses and employment. The last time the Reserve Bank made such a big cut was in March 2011 after the Canterbury earthquake. Last week, the bank outlined a range of unconventional monetary policy tools such as negative interest rates, special loans to banks, and buying bonds to put money into the economy. Cameron Bagrie is an independent economist. He speaks to Susie Ferguson.