More from RBNZ Gov Orr: low business confidence still a risk
|The Reserve Bank of New Zealand's Governor Adrian Orr is continuing to give statements during a press conference that follows earlier's RBNZ rate statement which saw the New Zealand central bank push expectations of a future rate increase even further out, with the RBNZ now expected to remain in a holding pattern through 2020 and beyond.
Key highlights
Orr: RBNZ needs to remain on-balance, make sure "we're blowing wind into sails of this economy for some time yet".
More "wind" might be needed if growth deteriorates further.
The RBNZ remains sensitive to downside shocks in the GDP.
Main risk to GDP continues to be low business confidence within New Zealand, negatively impacting investment spending.
Trade tensions are not good for NZ, but impact doesn't look too bad yet.
NZD/USD level and forward-looking projections accurately reflect the current interest rate differentials.
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