The Reserve Bank of New Zealand (RBNZ) Governor Adrian Orr is on the wires now, via Reuters, addressing the quarterly post-policy meeting press conference.
Note that the RBNZ left the Official Cash Rate (OCR) on hold at a record low of 1.75% earlier today, but the decision was perceived not so dovish as expected.
Chance of a rate cut has not increased.
Risks around rates are balanced.
If growth does not pick up a rate cut may be required.
Outlook balanced "up or down" we are "very comfortable”.
Risks are balanced don't predict "Armageddon" for house prices.
Proposed higher bank capital requirements a relatively small issue in influencing monetary policy.
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