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Aug 23 (Reuters) - The head of New Zealand's central bank on Thursday said he was "pleased" with where policy was at present, having cut interest rates by a sharp 50 basis points earlier this month.
Reserve Bank of New Zealand Governor Adrian Orr told Bloomberg TV in Wyoming that the cut to 1% allowed them to get ahead of any economic slowdown and reduce the probability of having to do a lot more later.
"So we're pleased with where we are," Orr said.
The New Zealand dollar NZD=D3 rose 0.3% to $0.6383 as the market interpreted the comment to mean there was less chance the central bank would ease policy again at its next meeting in late September.