RBNZ’s Hawkesby: Not changed guidance on keeping OCR at 0.25% until March 2021

The Reserve Bank of New Zealand (RBNZ) has not changed its guidance on keeping the Official Cash Rate (OCR) at 0.25% until March 2021, Deputy Governor Christian Hawkesby said while delivering a speech this Thursday.

Additional comments

The economy performing more strongly than expected in August this year.

The economy still requires substantial amount of stimulus, although less than was needed in August.

 Wednesday market reaction was to economists changing call on negative rates, not monetary policy statement.