RBNZ Governor Orr rules out further 50bp rate cuts (unless there is an economic shock)

RBNZ Governor Orr says that there would have to be an economic shock to cut by 50bp again.

Not a surprise. Yesterday's guidance from the Bank indicated 25bp rate cuts ahead.

More on the Bank's decision can be found here:

• ForexLive Asia-Pacific FX news wrap: RBNZ’s 3rd consecutive 50bp rate cut, NZD higher