Comments by RBNZ governor, Adrian Orr
- RBNZ prepared to do whatever it believes is needed
- RBNZ has 'powder in the gun' in the face of an economic shock
- NZ economy well placed to weather global turmoil
He also says that the central bank is re-working forecasts as the coronavirus impact is seen worsening. It looks like he is still keeping the market guessing a little, but with the Fed having cut rates it is hard to see how the RBNZ can escape that later this month.
You can also find his earlier remarks on policy decisions earlier today here. The market is pricing in just over a 25 bps rate cut (34 bps to be exact) for the 25 March meeting:
