RBNZ’s Orr: US - China trade war one of the Bank's major concerns
|Reserve Bank of New Zealand (RBNZ) Governor Adrian Orr is on the wires now, speaking at post-monetary policy meeting press conference.
The RBNZ cut its Official Cash Rate (OCR) to a fresh record low of 1.50% earlier today amid bleak NZ economic situation.
Key Quotes:
There are large uncertainties around the rate track for New Zealand.
US - China trade war one of the Bank's major concerns.
Surprised by weaker downturn in business sentiment and consumer spending.
Looking forward outlook looks to be more balanced than before cut.
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