Reserve Bank of New Zealand Assistant Governor/GM Economics speaking today, earlier post here:
Adding more remarks now, bolding mine:
- funding-for-lending programme will be around the official cash rate
- says more "conditionality" you put on funding-for-lending programme the less they get taken up
- talking about negative interest rates is a "not a game of bluff" for us
- from financial stability point of view, a very weak labour market is a big risk
