The RBNZ published RBNZ Governor Orr's.........>

RBNZ: The RBNZ published RBNZ Governor Orr's speech delivered to San Francisco

Fed on their website.

- Orr concluded his speech with the following remarks: "Monetary policy is one

tool. It needs to be seen in the context of all the Reserve Bank's tools as well

as the wider economic levers which have seen less in recent times. In these

uncertain times we must continue to communicate and offer forward guidance as to

future path of policy. Yes, there is uncertainty. Yes, it is affecting us. No,

monetary policy cannot directly resolve this issue. But we can offset its

effects and empower others to fuel economic activity that will benefit us in

both the short and long-term. There has never been a greater time to make use of

accommodative monetary policy for investing in productive assets."

- See the full text of his address at http://tiny.cc/OrrSpeech