Breaking: RBNZ’s Orr says OCR will remain at 0.25% until next year, Kiwi jumps towards 0.6900

Commenting on the prospects of negative interest rates, the RBNZ Governor Adrian Orr said that the Official Cash Rate (OCR) will remains at a record low of 0.25% until next year.

Additional quotes

“Too early to tell if the possibility of negative rates decreased following the FLP and LVR review.”

“Our commitment to keeping OCR unchanged until March stays.”

more to come ...

Market reaction

The buying interest around the NZD/USD pair remains unabated on the upbeat and less dovish comments from the RBNZ Governor Orr, given his take on the negative interest rates.

The kiwi surges 0.80% to fresh 20-month tops of 0.6885, closing in on 0.6900, at the press time.