Reserve Bank of New Zealand Governor Orr's press conference

  • Today's decision does not rule out any future action
  • nothing is ruled out for the future
  • lower monetary policy operating at a lower neutral interest rate
  • lowering the interest rate is completely sensible at this time
  • nervous abut fiscal spending, can't happen quickly enough due to capcatiy constraints
  • committee convinced that more sooner is better to reach targets
rbnz governor orr

Background to this is the big surprise of a 50bp rate cut: