While speaking at the Kanga News New Zealand Debt Capital Markets Summit 2022, Reserve Bank of New Zealand (RBNZ) Assistant Governor Karen Silk said that the “bank is well placed to manage the wind-down of additional monetary policy tools.”
“Stance of monetary policy is primarily determined by the level of the OCR.”
“OCR level is based on the assessment and forecast of economic conditions.”
“It is the OCR that matters for inflation targeting.”
NZD/USD is holding the lower ground just above 0.6000, undermind by the above comments alongside the US dollar strength, down 0.40% on the day.