WELLINGTON: New Zealand’s central bank governor Adrian Orr said an easing bias on interest rates will remain in place for now and that softer global economic conditions had contributed to the bank’s recent shift to a dovish policy tone.
At the last policy review in March, the Reserve Bank of New Zealand (RBNZ) held the cash rate steady at 1.75%, but stunned markets by clearly stating that the next move in rates would likely be a cut.
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