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

Thu, 15 Aug 2019

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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