⁍ ‘We have been effective in lowering interest rates across the board,’ said RBNZ governor Adrian Orr.
⁍ Orr reiterated that the RBNZ was actively preparing additional monetary policy tools to use if needed.
⁍ These included negative wholesale interest rates, further quantitative easing, direct lending to banks and ongoing forward guidance.
– New Zealand’s central bank cut its benchmark interest rate to a record low of 2.5% on Wednesday and said it was ready to take further steps to boost economic growth, Reuters reports. Reserve Bank of New Zealand Gov. Adrian Orr said in a speech that the bank had been “effective in lowering interest rates across the board, and ensuring there is plentiful liquidity in the financial system.” He said the bank was “actively preparing additional monetary policy tools to use if needed, which included negative wholesale interest rates, further quantitative easing, direct lending to banks, and ongoing forward guidance.”
Source: https://www.reuters.com/article/newzealand-economy-rbnz/rbnz-actions-have-been-effective-in-lowering-rates-governor-orr-says-idUSS9N2FD00G