The Reserve Bank of New Zealand's Adrian Orr said that the central bank is solely focussed on inflation and employment mandates.
He says the central bank is in a sound position to continue to meet its mandate in the face of the covid-19 induced economic shock
Key remarks
Says monetary policy committee’s remit remains unchanged.
Says the multifaceted nature of the housing market necessitates a multipronged response.
Says there is still heightened health-related economic uncertainty.
Says house price volatility poses risks to New Zealand's financial system soundness.
Says monetary policy remains very stimulatory.
Says to achieve our mandate we still need stimulatory monetary conditions.
Market implications
House prices are a keen focus in the forex space gauging by the last time the central bank commented on how they intend to factor them into their policy decisions. The bird flew on the announcement.
Today, there has been no reaction to the comments, however.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD stays defensive near 1.0300 ahead of US CPI
EUR/USD remains under pressure near 1.0300 in the European trading hours on Wednesday. The pair is undermined by a broadly steady US Dollar and a tepid risk sentiment ahead of the US CPI inflation data release. Dovish ECB commentary also remain a weight on the pair.
GBP/USD recovers to 1.2200 despite softer UK inflation data
GBP/USD erases losses to retake 1.2200 in the European session on Wednesday. The Pound Srerling shakes off a surprise cooldown in the UK inflation. The December UK CPI inflation fell to 2.5% YoY vs. 2.7% expected. The focus now shifts to US CPI data.
Gold price turns positive for the second straight day amid softer USD; US CPI in focus
Gold price reverses an intraday dip to the $2,669 area and turns positive for the second straight day on Wednesday, though the upside seems limited ahead of the US CPI report. The US Dollar hangs near the weekly low touched in reaction to the softer US PPI on Tuesday and turns out to be a key factor lending support to the commodity.
US December CPI preview: Concerns about sticky inflation to linger
The December CPI report should indicate that the underlying trend in inflation is not re-accelerating, but it is unlikely to allay the FOMC's increased concerns that inflation has become stuck uncomfortably above its target.
Donald Trump’s World Liberty Financial crypto holdings loss over $4.8 million
Lookonchain data shows that Trump’s backed DeFi platform World Liberty Financial faces a $4.84 million loss in its crypto holdings. WLFI’s X account announced routine crypto movements for treasury management, fees, and working capital needs.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.