Reserve Bank of New Zealand policy decision posts here from earlier (read from the bottom up for the chronology):
- RBNZ says the NZD would be considerably higher if not for RBNZ policy actions
- NZD gaining further - RBNZ response ongoing
- NZD marked lower on the RBNZ statement but recovered quickly to a fresh session high
- RBNZ keep monetary policy steady, as expected
Orr says he wants to retain all options for stimulus
- have always said negative rates an option that is available
Hawkesby says the Bank wants to be a downward influence on the yield curve
Orr again:
- need to see outcomes on inflation and employment
- settings are consistent with achieving objectives
- will watch, worry and wait as the data comes in
- initial demand for houses is past its peak
- if monetary conditions tighten too much we will alter our settings
