Remarks by RBNZ assistant governor, Christian Hawkesby
- Policy decisions won't be tightly linked to COVID-19
- Lockdowns only delay spending
- Demand has proven to be more resilient than anticipated
- RBNZ considered boosting OCR by 50 bps
The remark in bold is a big statement to make and that has seen the kiwi push up to a session high of 0.6940 against the dollar, but contesting near-term resistance from the 200-hour moving average at 0.6929 currently:
The postponement of the rate hike this month was understandable considering the optics of the situation but if the virus situation worsens, what exactly is the plot here?
