RBNZ's Orr: Aware of asset price inflation, operating with medium-term focus
|RBNZ's governor Adrian Orr is crossing the wires saying that they are aware of asset price inflation and are needing to operate with a medium-term focus.
Orr states that they are also aware of limits of monetary policy and that the RBNZ has plenty of room left in its QE program.
Orr explained that they would prefer to deal with inflation than battle deflation.
The kiwi has been testing the 0.66 figure following the statements in a risk-off environment and is in synch with the prior analysis:
NZD/USD Price Analysis: Bears wait for confirmation of the downside
Before:
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After:
Now bears need to see the support line officially broken with a re-test and subsequent continuation of the downside.
Further reading:
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NZD/USD flips offered into early Asia on late NY session risk-off flows
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AUD/NZD Price Analysis: Weekly support and daily resistance in focus
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