Reserve Bank of New Zealand
- door is open for a rate cut if needed
- starting to see signs of a pick up in activity
- we are in a nice position to observe data
- lower exchange rate is adding stimulus
- monetary policy is already very stimulatory
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- market reaction to rate decision was not a surprise
- key message is rates will be low for a long period
I bolded that last one, Orr designating it his key message.
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- Unconventional policy is possible but not core forecast
- biggest downside risk is global uncertainty
