A lot of work needs to be done in order to achieve the monetary policy targets, said the Reserve Bank of New Zealand (RBNZ) Assistant Governor Christian Hawkesby on Wednesday.
“Looking to use balance sheet more.”
“Balance sheet likely to remain large for a long period of time.”
“Working assumption is that borders will be closed until end of 2021.”
The above comments failed to have any impact on the kiwi dollar, as NZD/USD meanders near-daily lows of 0.6545 following a brief spike to 0.6565 levels.
At the time of writing, the kiwi trades 0.08% higher at 0.6552.
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