The Reserve Bank of New Zealand's assistant governor, Christian Hawkesby, has given the kiwi boost in the Tokyo open in saying that less stimulus is required than thought in August.
- He expects FLP to lower lending rates ‘reasonably quickly’.
RBNZ will respond if FLP doesn’t deliver enough stimulus.
Can still use negative OCR as a policy tool if required.
Uncertainty wide, still some big downside risks.
Meanwhile, however, with the market's focus on the coronavirus, it may be concerned for the latest Reuters news that New Zealand says there is a new community case of covid-19 reported in Auckland.
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