2020.12.0208:31:00UTC+00RBNZ Policies Provide Mutual Support For Fiscal Initiatives, Says Orr

The Reserve Bank of New Zealand's monetary and financial policies provided significant mutual support for the government's fiscal initiatives, Governor Adrian Orr said Wednesday.

The central bank support was direct through lower interest rates and financial regulatory efforts, and indirect via market operations, he said in a speech delivered to Australia National University in Canberra, Australia.

Further, Orr said his team remained focused on maintaining low and stable consumer price inflation, contributing to maximum sustainable employment, and promoting a sound and efficient financial system.

The governor said communication challenge remains ongoing despite the successful implementation of these new monetary policy tools. "We share this challenge with other central banks," he said.