Reserve Bank of New Zealand Deputy Governor Bascand
- says could extend and expand asset purchase programme further
- will see how data plays and provide more stimulus if needed
- expects more certainty on Covid-19 situation in 3 months, will then re-evaluate whether to do more or take foot off the pedal
- made no decision to buy foreign assets, launch negative interest rates at this time; they are one of many options available to committee
- asked banks to be ready to transact, deploy negative rates in wholesale markets by year-end
- don't expect negative rates to be deployed in retail markets for individual households and depositors
- exchange rate at a level that's supporting exports
- exchange rates are "fickle things", not seeking to control it
- pleased with the way monetary stimulus operating so far, yields have come off across the curve
more to come
