Deputy governor Hawkesby defends RBNZ's move

Deputy governor Christian Hawkesby. (Image: NZME)

Mon, 19 Aug 2024

Like other central bank officials, the Reserve Bank of New Zealand's deputy governor, Christian Hawkesby, says its latest monetary policy review was not a U-turn. “We always put out a central projection based on the best information we had at the time, but we are at pains to talk about how it is conditional," he told BusinessDesk.The Reserve Bank of NZ’s (RBNZ) Monetary Policy Committee (MPC) has come under fire since it cut the official cash rate (OCR) by 25 basis points on Wednesday to 5.25%, at least a yea...

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