';
Views Article – Sharenet Wealth

Australasia, Forex

Further NZ monetary easing a possibility – assistant governor

WELLINGTON, Aug 8 (Reuters) – New Zealand’s assistant central bank governor said on Thursday there was still a chance the bank would reduce rates again, a day after surprising markets with a steep 50 basis-point cut to the official cash rate (OCR). “We’ve got a more balanced outlook for the OCR now…but even within those projections there’s some probability in there that we will need to reduce the OCR from where it is at the moment,” assistant governor Christian Hawkesby told Reuters in an interview.

Wednesday’s decision stunned markets and sent the New Zealand dollar into a tailspin, which Hawkesby said the central bank had been expecting when deliberating on whether to deliver a bigger cut.

(Reporting by Charlotte Greenfield and Praveen Menon Editing by Shri Navaratnam)


© 2019 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.