RBNZ's Orr: NZD decline a "good thing"

The Reserve Bank of New Zealand's Governor, Adrian Orr, has continued his commentary today following Thursday's dovish showing from the New Zealand central bank.

Key highlights

Orr commented today that yesterday's meeting and its subsequent bearish impact on the Kiwi was a good thing overall, noting that a cheaper NZD is better for New Zealand's economic growth, and also mentioned that inflation has been largely impacted by backwards-looking price-setting behaviour. Orr continued that his hopes for next week's national budget release will result in more investment expenditure, and Orr applauded that markets seem to finally listening to the message that "rates will remain low for a considerable period of time".