Reserve Bank deputy governor Geoff Bascand spoke on Friday, this a reminder post as his comments were on briefly touch on here.
Bascand was speaking in reference to the surprise 0.5% cut from the RBNZ last week
- says the Bank is transparent, publish forecasts , projections and how it sees economic developments unfolding
- RBNZ not in the business of surprising people
- Will do “what we think needs to be done to achieve our objectives”
- “So I don’t think you should interpret this as some sort of change in philosophy, but a correction, and we will try and keep communicating as much as we possibly can. World interest rates are lower and we are behind with all this uncertainty”
The RBNZ next meet in September (25th). Current expectations are for an on hold decision at that meeting.