Earlier:
- RBNZ cuts cash rate by 50bp vs. 50bp expected
- NZD/USD lower after the as expected 50bp rate cut from the Reserve Bank of New Zealand
Media conference now. RBNZ Governor Orr leading the team.
- Economy has significant spare capacity
- rate cut in April and then May sounds about right, two 25bp steps lower
- among the near term risks is slower economic growth
