RBNZ’s Orr: On hold decision was unanimous

Dhwani Mehta FXStreet

The Reserve Bank of New Zealand (RBNZ) Governor Adrian Orr is on the wires now, via Reuters, addressing the post-monetary policy press conference.

The RBNZ caught the markets off guard by standing pat on its interest rate decision last hour. The central bank left the Official Cash Rate (OCR) unchanged at a record low of 1.00%.

Key Quotes:

On hold decision was unanimous.

Policy very stimulating at present.

We'll add more stimulus if needed.

Rates will stay low for a while to come.

Lower NZD has supported earnings.

The Kiwi regained the 0.64 handle on Orr's comments after he said that the policy is very stimulating currently.

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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