RBNZ Gov says it’s a misunderstanding that RBNZ projections show slower pace of rate cuts

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:

• RBNZ Monetary Policy Statement Media Conference – live link

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

This article was written by Eamonn Sheridan at www.forexlive.com.