RBNZ’s Orr: NZD currently around “happy space”, easing bias remains in place for now

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Reserve Bank of New Zealand  Governor Adrian Orr is out on the wires stating that the New Zealand dollar’s exchange rate is around a happy space and the monetary policy easing bias remains in place for now. 

Key quotes

  • Softer economic conditions in the US, Europe, China contributed to the dovish tone.
  • Possibility Q1 inflation undershooting forecasts already factored into bank’s dovish bias. 
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