RBNZ’s Orr: 50-point cut was driven largely by domestic concerns – AFR
|In his interview to the Australian Financial Review (AFR), the Reserve Bank of New Zealand (RBNZ) Governor Adrian Orr said that latest decision to announce a 0.50% rate cut was driven largely by domestic concerns.
Key quotes
- RBNZ's 50-point cut was driven largely by domestic concerns.
- We saw our own inflation expectations starting to decline and we didn't want to be behind that curve.
- Mr Orr pointed to a long list of global political flash points already weighing on sentiment.
FX implications
Markets showed little reaction to the news which could have been the key piece if the statements signaled any direction policy action in the future.
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.