The Reserve Bank of New Zealand has published an article on unconventional monetary policy (Bulletin article discusses unconventional monetary policy since the Global Financial Crisis)

  • RBNZ says it has significant room to ease in a conventional way
  • Is not projecting a significant decrease in the official cash rate (OCR)
  • Says conventional policy remain effective
  • Rate could be lowered into modestly negative territory'
  • targeted term lending facilities could be introduced

NZD had a quick dip (a few points) but cooler heads have prevailed - this is a think piece from the RBNZ not a guide to current policy - NZD back to where it was now.

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