RBNZ’s Orr: US - China trade war one of the Bank's major concerns

Reserve Bank of New Zealand (RBNZ) Governor Adrian Orr is on the wires now, speaking at post-monetary policy meeting press conference.

The RBNZ cut its Official Cash Rate (OCR) to a fresh record low of 1.50% earlier today amid bleak NZ economic situation.

Key Quotes:

There are large uncertainties around the rate track for New Zealand.

US - China trade war one of the Bank's major concerns.

Surprised by weaker downturn in business sentiment and consumer spending.