Reserve Bank of New Zealand Governor Orr in an interview with Reuters
- Says on balance need to make sure "we're blowing wind into sails of this economy for some time yet"
- Says if we see a detioration in growth we might have to "blow more wind"
- We'd be sensitive to continued downside surprises to GDP
- Number one downside risk to GDP is low business confidence affecting investment
- Says trade tensions not good for new zealand but current modelling doesn't show big impact yet
- Says kiwi dollar level and projections reflect interest rate and inflation differentials
Orr highlighting low NZ business confidence. Recent surveys have shown it on the slide indeed and it does not appear (from recent survey results) to be showing signs of recovery. Its a conundrum as the kiwi economy is trundling along, not a breakneck pace that it has been, but still.
NZD is getting a bit of stick again, to its lowest now since May of 2016
more to come
