RBNZ’S ORR: WE CONSIDERED A RANGE OF MOVES, CONSENSUS WAS FOR 25 BPS
Reserve Bank of New Zealand’s (RBNZ) Governor Adrian Orr explains the dovish policy pivot at a press conference, following the surprise announcement of a 25 basis point (bps) interest-rate cut on Wednesday.
Orr is responding to questions from the press conference.
Key quotes
We are confident inflation back in its target band can commence re-normalize rates.
We considered a range of moves, consensus was for 25 bps.
Keen to see actual inflation data.
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