As explained at the release of the February Monetary Policy Statement, the Reserve Bank will be releasing its high level principles around how it would assess and use unconventional monetary policy tools if ever needed. Governor Adrian Orr will be giving a short speech outlining the principles. The speech notes and principles will be available on the Reserve Bank website from 2pm on Tuesday 10 March.
The principles and speech will not discuss current economic conditions or the Reserve Bank’s outlook for the Official Cash Rate (OCR). The Reserve Bank’s next OCR decision is scheduled for March 25.
The Bank remains prepared in its business continuity role to ensure a well-functioning financial system, including ongoing consumer and business access to credit and cash, liquidity to the banking system and a stable payments and settlements system.