RBNZ Gov Orr says does not need to use unconventional monetary policy tools

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