More from RBNZ's Orr - low interest rates are just as effective as ever

More remarks from Reserve Bank of New Zealand Governor Orr, who is speaking to a parliament committee

• says positive interest rates at low levels are just as effective as ever

• in the absence of consumers, businesses or government spending as expected we will have to lower the interest rate further

---

There are plenty of criticisms about that cutting rates from already low levels is ineffective. Not a New Zealand thing, its all over. Orr disagrees.

Earlier:

• RBNZ Gov. Orr says again negative rates are possibility

Yesterday:

• Another bank says to expect further rate cut from the RBNZ, in November
• RBNZ Governor Orr says might have to do negative interest rates
• AUD and NZD extending their declines as RBNZ Governor Orr speaks
• RBNZ Governor Orr says today's interest rate cut does not rule out further action
• Another bank calling more RBNZ rate cuts ahead (November)
• Another RBNZ rate cut ahead - further cut in November on the way
• AUD dropping with the NZD
• NZD under 0.6450, big drop on the surprise from the RBNZ
• RBNZ cuts the cash rate by a whopping half a percent - NZD down a big figure
• RBNZ cut the New Zealand cash rate by 50bps, bigger than expected