RBNZ Governor Adrian Orr said he’s “very pleased” with the impact of the central bank’s QE program. As for the next steps in monetary easing, he’s confidence that there are “plenty of tools”. But for now, the main game in town is about fiscal policy.
Orr added the next steps for RBNZ could include an increase in the size of QE, and the number of instruments included in the program. Also, negative case rate is still a possibility.