RBNZ's Hawkesby says the Bank's big rate cut reduces the chance of QE

Reserve Bank of New Zealand Assistant Governor/GM Economics, Financial Markets and Banking Christian Hawkesby

The remark is in relation the August rate cut from the Reserve Bank of New Zealand of 50 basis points while everyone was expecting a 25bp cut instead.

• reduces the chance of QE
• monetary policy is still effective
• cut gives inflation a chance to lift earlier