RBNZ Gov Orr - says again will keep monetary support as long as necessary, strong fiscal position in NZ

Author: Eamonn Sheridan | Category: Central Banks

Reserve Bank of New Zealand Governor Orr wrote a piece for NZ media on Sunday, repeating his messages:

  • Reserve Bank can keep monetary support going for as long as necessary through QE and other tools
  • New Zealand is in a globally-enviable fiscal position with significant headroom
Orr does not sugar coat what is ahead: 
  • Some businesses will fail
  • unemployment will rise
  • We will also have to make tough decisions at the Reserve Bank when it comes to a specific firm's viability. The financial system is strong but we do not run a 'zero failure' regime.
Orr's message has broader applicability. 

Reserve Bank of New Zealand Governor Orr wrote a piece for NZ media on Sunday, repeating his messages:

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