Reserve Bank of New Zealand Governor Orr speech
- says has not, and still does not, need to use alternative monetary policy instruments
- says but it is best to be prepared
- fortunate, unlike many other OECD economies, to have time to prepare for alternative steps
- goal of steps would be to ensure a strong and sustained increase in economic activity
- to release a series of technical papers explaining the tools in more detail
- speech does not discuss current economic conditions, outlook for the official cash rate
