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RBNZ Governor Adrian Orr Speaking To Bloomberg
RBNZ Governor Adrian Orr has been speaking to Bloomberg. The key points mentioned are:
- RBNZ’s strategy is to keep the yield curve low & flat
- Doesn’t want to the OCR (official cash rate) to go negative at this point
- Prepared for negative rate ‘but a lot later’
- Reiterates negative OCR remains one option for the RBNZ
- Expects to see NZ retail interest rates decline further
- Expects bank competition will pressure margins, lower rates
The NZD is a little higher in immediate response.
The next OCR decision and monetary policy statement will be on the 24th June 2020.
Current indicative levels are:
NZD-USD 0.6075 / 0.6100
NZD-AUD 0.9290 / 0.9315
NZD-EUR 0.5555 / 0.5580
NZD-GBP 0.4955 / 0.4980
NZD-JPY 65.50 / 65.75
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