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RBNZ Governor Orr signals cautious policy approach with small steps -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Governor Adrian Orr of Reserve Bank of New Zealand (RBNZ), is photographed during an interview held at the bank, Wellington, New Zealand on April 16, 2019. REUTERS/Charlotte Greenfield

WELLINGTON (Reuters] – As the world reacts to the COVID-19 pandemic in the global health, the Reserve Bank of New Zealand’s (RBNZ), Governor Adrian Orr stated on Thursday that it will be taking small steps in monetary policies and observing how the situation develops.

Orr stated to a committee of parliamentary members that it is better to start small and then watch as things develop.

He stated that the uncertainty surrounding how businesses, governments and people are dealing with this type of health risk in the global economic will drive inflation.

The RBNZ raised interest rates 25 basis points on Wednesday.

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