Dawn chorus: Monetary conditions tighten
RBNZ sits still with OCR, LSAP and FLP, giving a tacit green light to further rises in wholesale interest rates and the currency; NZ$ rises to near-four-year high of 74 USc this morning
TLDR: The Reserve Bank left its own monetary policy settings unchanged yesterday, but effectively gave tacit approval to higher market interest rates and a stronger currency by doing nothing.
Governor Adrian Orr said the Reserve Bank was comfortable with where monetary conditions were now, giving the green light for overseas traders to push the NZ dolla…
Keep reading with a 7-day free trial
Subscribe to The Kākā by Bernard Hickey to keep reading this post and get 7 days of free access to the full post archives.