RBNZ’s Orr: No urgency to further easing at this point
|More comments are crossing the wires from the RBNZ Governor Orr, as he now responds to the Q&A session.
Predicting the economy to pick up in new year.
Policy stimulatory will be for a long time, will act again if necessary.
No urgency to further easing at this point.
Ups and the downs in economic data since the August statement broadly offsetting each other.
If circumstances change, "we will act".
Not our intention to surprise markets but market expectations have been moving around a lot.
Long term inflation expectations are well anchored.
Plans update on framework for unconventional tools -will outline the types of tools in early 2020.
Monetary policy is effective, we are seeing their effects coming through.
No urgency to use unconventional tools.
Any sense of needing to have unconventional monetary policy tools is a precaution.
Meanwhile, the RBNZ Assistant Governor Christian Hawkesby said that “data will determine what we do”.
The Kiwi keeps its range around the 0.6400 level, unable to clear the 0.6420 confluence zone despite Orr’s slightly hawkish comments.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.