60 billion kiwi dollars. It is projecting a contraction of its gdp in the Second Quarter to 21. 8 . New zealand maintaining its benchmark Interest Rate at 0. 25 , all pretty much as expected. The rbnz has been at the forefront of supporting the 0. 5 already. Ates under a lot of pressure for this fiscal stimulus, as weve been saying, to double to 60 billion kiwi dollars. Facing a lot of scrutiny on whether to take rates to negative. We will see if it does that later on. For now, keeping rates steady. Kathleen bring in hays. It does seem like rbnz did exactly what the markets expected. Absolutely. There was no changing sentiment in the key rate. 75 basis points move in midmarch, that emergency front, the rbnz saying they are prepared to cut the cash rate further, taking it lower, then that door gets opened even wider. They are saying that the balance of economic risk remains to the downside. Forhey are looking contraction in secondquarter big that would be quite a hole to fill. They are
A stop to those surveillance powers all right its time to boost your i. Q. Ever since the coronavirus pandemic forced stay at home orders which ultimately led to the shutdown of a lot of businesses congress has passed several relief measures aimed at getting americans back on their feet but after trillions of dollars got rubberstamp prove the country as a whole is nowhere near reopening and americans are becoming impatient with elected leaders and today the u. S. Treasury secretary and the Federal Reserve chairman were grilled by members of the Senate Banking committee wanting to know where all that money went arties Rachel Blevins has been monitoring the hearings today and shes joining us now. What is the current status of these loan programs for businesses and local governments so todays hearing mark the 1st time that officials were questioned by the Senate Banking committee on that 2. 00 trillion dollar cares act that was passed and the hearing was held remotely in order to abide by
Resulting in a military build up on the streets of d. C. Peaceful protesters say they will continue sharing their message of ending Police Brutality arties Rachel Blevins was at the protest this morning she is joining us live from outside of the white house with more so rachel whats the latest on the ground. Kalman know were here at the white house is about as close as close as we can get to the white house right now given the fact that they came in they put up a new barrier yesterday and today they have added in a line of armored personnel in between the protesters and that barricades and now they have officers actually on the front line facing off against the protesters however its important to notice that the protests we have seen over the last 24 hours have been overwhelmingly peaceful here and this all comes as the pentagon confirms that it has deployed around 1600. 00 u. S. Army troops here to the d. C. Region and even though president has continued to focus on the acts of violen
Over the redeployment of nukes and that poland at the move which interestingly enough is also being criticized by some American Institutions all right its hard to believe i hear. Ever since the coronavirus forced americans to stay home that obviously led to the shutdown of a lot of businesses and congress has since passed several relief measures aimed at getting americans back on their feet but after trillions of dollars got rubber stamp approvals the country as a whole is really nowhere near reopening and americans are becoming impatient with elected leaders well today the u. S. Treasury secretary and the Federal Reserve chairman were grilled by members of the Senate Banking committee wanting to know where all that money went. Rachel blevins has been monitoring those hearings she is joining us now with the details as a rachel how did these hearings actually play out well this marks the 1st time that Administration Officials were questioned on the results of that 2. 00 trillion dollars
Lets head to the markets desk. My we are holding on to gains in the last couple hours of trading, still solidly in the green. The dow is up when 4 . 1 . The dow is up. 4 . There is a broadbased rally we are talking about here today. Seven of the 10 sectors are in the green. Telecommunications and Consumer Staples flatlining here. Information technology has been the biggest leader all day, up 1. 1 . Consumer staples have always been the laggard. Lets see what is moving in terms of information technology. What we are looking at in terms of the biggest percentage gainers. This company is the company that makes the stuff that makes memory chips. Jumped torter orders 3. 5 billion. Micron is also surging by nearly 6 here. Western digital up by nearly 4 as well. Lets also think you look at whats happening with Consumer Staples take a look at whats happening with Consumer Staples. Sales down six quarters in a row. A weaker caret caron hurt by a weaker rot season. They make v8 juice. Church dwi