RBNZ’s Orr: Border opening does not change policy outlook

Dhwani Mehta FXStreet

New Zealand’s ” border opening does not change policy outlook,” the Reserve Bank of New Zealand (RBNZ) Governor Adrian Orr said while addressing the post-monetary policy decision press conference on Wednesday.

Additional quotes

“Did consider 50bps increase today.”

“Put the best foot forward with 25 bps, gives more optionality.”

“Can take our time at this point.”

“Not worrying about rising wages, have been well-behaved.”

“Taking cautious steps with cash rate.”

“Uncertain how people with debt will respond to higher rates.”

“See steady steps of 25 bps as balanced approach at this time.”

“Plan to gradually manage down LSAP holdings.”

NZD reaction

NZD/USD keeps its renewed upside intact on the latest comments from Governor Orr, currently trading at 0.6927, down 0.28% on the day.

The pair tested six-week lows of 0.6916 on RBNZ’s dovish rate hike decision.

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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