RBNZ’s Hawkesby: If had not eased policy, the NZD would be 5-10% higher

Dhwani Mehta FXStreet

If the Reserve Bank of New Zealand (RBNZ) had not eased monetary policy further, the NZD/USD exchange rate would be higher by 5-10%, Deputy Governor Christian Hawkesby said while speaking alongside Governor Adrian Orr following the Financial Stability Report publication this Wednesday.

Meanwhile, Orr added that the policy intentions stand as stated in the monetary policy statement.

“NZ economy is one of most resilient on planet earth,” Orr noted.

Orr said: “The RBNZ is operationally ready to implement negative OCR if conditions warrant it.”

NZD/USD wavers around 2.5-year high below 0.7000 even as RBNZ’s Orr backs low interest rates

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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