PHOTO: ROBYN EDIE/STUFF Adrian Orr is not afraid to take decisive action, lay down the law with banks, as well as speak directly to the Government, business and the public alike.
OPINION: Adrian Orr is the strongest Reserve Bank Governor of New Zealand I’ve seen, and he’s come just at the right time.
He’s not afraid to take decisive action, lay down the law with banks, as well as speak directly to the Government, business and the public alike. It’s really refreshing.
New Zealand interest rates are converging on zero. It would take a massive economic upswing and rampant inflation to turn around their downward track, which is very unlikely in this environment. Instead New Zealand borrowers can expect the official cash rate to drop to around zero, with total interest rates sitting at about 3 per cent.
The OCR has got a few more cuts to go, but I don’t think we’ll see it go into the negative.
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