RTRS runs comments from RBNZ Gov. Orr who......>

RBNZ: RTRS runs comments from RBNZ Gov. Orr who suggests that "New Zealand is in

a sound position to seize the opportunities and manage the challenges associated

with the low global interest rate environment." Orr's current view is that the

RBNZ is "unlikely to need 'unconventional' monetary policy tools" and he also

noted that many central banks are facing the challenge of inflation consistently

running below target.

- BBG with further comments from Orr, as the Governor states that he is "happy"

with the outcome of the August OCR decision (a 50bp cut) to date, and that the

cumulative impact of the cut is working its way through the economy. He also

suggested that NZ's neutral interest rate has fallen to about 3% today.