RBNZ’s Orr: Global and domestic low inflation expectations key reason for lower official interest rates

The Reserve Bank of New Zealand (RBNZ) Governor Adrian Orr crosses the wires while saying that the central bank is forward looking and transparent.

Key quotes

• Continue to engage with open mind on capital plan.
• RBNZ is forward looking, transparent.
• Global and domestic low inflation expectations key reason for lower global and domestic official interest rates.

FX implications

While the New Zealand Dollar (NZD) is yet to respond to the news, expectations are in support of the further weakening of the currency as the central bank leader sound dovish.