Comments by RBNZ governor, Adrian Orr
- There will always be trade-offs when implementing monetary policy
- Economic risks still skewed to the downside
- Monetary policy objectives have not changed
- Rising house prices have increased perceived wealth
- RBNZ takes asset prices into consideration when assessing policy decisions
- New policy tools will become mainstream
- Focused on being operationally ready to implement negative rates if necessary
- Actual use will depend on economic context at the time, and relative efficiency
- Full text
There isn't anything that stands out too much as he communicates a more flexible approach towards negative rates, or in his words that the RBNZ retains the option but not the obligation to pursue negative rates depending on the economic situation.
