Gov Orr:
- misunderstanding that RBNZ projections show slower pace of rate cuts
- projections are consistent with 50bp cut in February depending on economy
- expect more volatility in prices because of geopolitics
- did not discuss cutting by 75bp (amends that to say very little discussion of 75 or 25)
- policy committee can meet at any time if needed
You can view the press conference here:
The Bank cut rates earlier:
- Reserve Bank of New Zealand cuts cash rate by 50bp, as expected
- New Zealand dollar has surged higher after the Reserve Bank of New Zealand 50bp rate cut
- What is the Reserve Bank of New Zealand even doing? This is a horror 'typo'/link
