RBNZ's Hawkesby says some economic data are surprising to the upside

Reserve Bank of New Zealand Hawkesby

• Says there is still a lot of uncertainty about the economy
• Economy will require continued policy support
• Economy still on life support to some extent
• Global risks are still to the downside
• Says lower NZD exchange rate could provide further stimulus is interest rates go negative
• lower bound on interest rates likely to change over time, will also depend on other policy tools being used