Orr: RBNZ ‘thinking hard’ about unconventional policy
Governor says tools not likely to be needed, but “we would be remiss not to be prepared”
Reserve Bank of New Zealand economists are “thinking hard” about how to use unconventional monetary policy, governor Adrian Orr said today (September 26).
Orr stressed the RBNZ currently did not expect to need the additional tools. “But we would be remiss not to be prepared,” he told a conference in Auckland.
The governor said New Zealand was in the beneficial position of being able to learn “what to do, and not to do” from other central banks. With the estimated neutral rate of interest much
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