RBNZ's assistant gov Hawkesby - rate cut gives us time to assess

RBNZ assistant governor Hawkesby says rate cut and other measures announced on Monday give the Bank sufficient time to reassess situation

• says message received from banks was they were not all ready for negative interest rates
• says stopping at 0.25% gives signal that RBNZ not looking to go to zero or below zero
• says RBNZ will not announce a limit or cap on any particular unconventional tool
• says evidence suggest this is a global and domestic economic shock of medium-term nature