In August 2019, the OCR was eased to 1.00% but the RBNZ was already signalling a willingness for further easing in order to counter rising growth headwinds. Less than a year later, we have an OCR at 0.25%, a global economy facing a swift and unprecedented downturn, and an RBNZ endorsing negative interest rates as an effective stimulatory tool. With recent events highlighting the enduring challenges of the new ‘normal’ in a COVID-19 world, the prospect of further monetary policy measures being rolled out appears high.

Verifying purchase and sales forecasts and monitoring actuals diligently is more important than ever to safely navigate our new business ‘normal’ of on-going disruption due to COVID-19. The potential impacts on a business extend well beyond the in-house position: how have suppliers been hit by COVID changes to their own supply chains? What changes are being witnessed through customer behaviour – and how has their ability to pay been affected?