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RBNZ says rate cut not off the table but expects to hold for a long time

Published 13/02/2019, 01:40 pm
© Reuters. RBNZ says rate cut not off the table but expects to hold for a long time

WELLINGTON, Feb 13 (Reuters) - The Reserve Bank of New Zealand (RBNZ) Governor Adrian Orr said on Wednesday the central bank had not ruled out a rate cut, but that its best guess was it would keep rates on hold for "a long period."

The central bank governor made the comments at a media conference shortly after the RBNZ left rates on hold at a record low of 1.75 percent at its first monetary policy decision of the year. RBNZ forecast rates at 1.84 percent in December 2020, pulling back from an earlier prediction of 2.0 percent by then. Rates did not cross 2 percent until September 2021 in the latest projections.

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