- Analytics
- News and Tools
- Market News
- RBNZ’s Hawkesby: Policy is going to stay restrictive for some time yet
RBNZ’s Hawkesby: Policy is going to stay restrictive for some time yet
The Reserve Bank of New Zealand (RBNZ) Deputy Governor Hawkesby said on Friday that interest rates in New Zealand need to stay restrictive for some time to ensure inflation expectations become fully anchored again while adding that the central bank was not in the position to consider cutting rates.
Key quotes
“Restrictive policy needed to ensure inflation expectations anchor at 2%.”
“Policy is going to stay restrictive for some time yet.”
“Policy will need to stay restrictive even when the output gap is negative.”
“We think the output gap now is around zero, if not a bit negative.”
“We don't have a lot of room to maneuver when it comes to future inflation shocks.”
“We are on the right path with inflation, have to hold our course.”
“Not in a mindset to cut rates now, will be cutting sometime down the track.”
Market reaction
The NZD/USD pair is trading lower by 0.05% on the day to trade at 0.6084, as of writing.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
