RBNZ isn’t here to surprise, deputy governor says.

Fri, 09 Aug 2019

By Victoria Young Aug. 9 (BusinessDesk) - Reserve Bank deputy governor Geoff Bascand has told an audience of businesspeople the central bank won’t keep surprising as it did when it slashed the official cash rate on Wednesday. RBNZ's monetary policy committee shocked financial markets by slashing the OCR by 50 basis points to a record low of 1 percent. Economists had been expecting a 25 basis point cut. In Auckland today, Bascand told about 80 Bank of New Zealand customers at a lunch that the bank is not in the business of surprising...

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