Reserve Bank of New Zealand Governor Orr speaking to a parliament committee
- Says negative rates are within the realm of possibility
- easily within errors of margin of forecasts to end up in a position where negative interest rates needed to stimulate the economy
- US-China trade war issue has lingered too long, creating global economic uncertainty
RBNZ Hawkseby (Assistant Governor/GM Economics, Financial Markets and Banking)
- says near term growth will stay relatively subdued
Orr spoke on the potential for negative rates in his press conference, see bullets below for more.
If you missed yesterday's RBNZ action:
- 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
