Orr defends RBNZ rate cut, says monetary policy looks ahead, not behind

Orr defends RBNZ rate cut, says monetary policy looks ahead, not behind
Rebecca Howard
By Rebecca Howard Aug. 16 (BusinessDesk) - Central bank governor Adrian Orr came out swinging in response to an opinion piece from BusinessNZ chief executive Kirk Hope who called on the bank to focus on a "conservative, principles-based, no-surprises approach to monetary policy." Hope, in the piece published by stuff.co.nz, voiced concern about the central bank's latest 50-basis point rate cut, the magnitude of which took markets by surprise last week. The monetary policy committee said it opted to cut the official cash rate to 1 percent ...

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