Orr dovish but not as dovish as the market expected

Wed, 13 Feb 2019

By Jenny Ruth Feb. 13 (BusinessDesk) - Reserve Bank governor Adrian Orr’s latest monetary policy statement was on the dovish side, but not as dovish as the market had been expecting. As expected, he held the official cash rate steady at its record low of 1.75 percent, where it has sat since November 2016, and said it will remain there until 2021, a couple of quarters later than it forecast in November. And the next move could be either up or down. Consequently, the New Zealand dollar jumped as high as 68.47 US cents from 67.35 cents...

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