RBNZ Assistant Governor Christian Hawkesby said today that the central bank is in no rush to remove monetary stimulus. “Markets are keen to get ahead of central banks but there will inevitably be false starts,” he said. “And that is why we are seeing some of the volatility in bond markets at the moment.”
“Our approach is to continually remind markets that we are going to be patient, and we are in no hurry to remove stimulus,” he emphasized. The comment was consistent with the central bank’s message last week, about keeping easy monetary policy for a prolonged period of time.
While New Zealand has reopened earlier than many other countries, “there are pockets, regions and sectors that are still struggling”, Hawkesby said.
