RBNZ’s Orr: Chance of a rate cut has not increased

Dhwani Mehta FXStreet

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.

Key Comments:

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.

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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