RBNZ Gov: Too much too soon is better than too little too late

RBNZ Governor Orr is crossing the wires saying that, "Too much too soon is better than too little too late," with respect to the recent surprise 50 basis point cut. 

More to come...

FX implications

That is positive news for the NZD as it suggests that there will not be an additional 50 basis point cut at the next meeting.

Stay tuned for RBA's Lowe and the SMP for action in AUD/NZD.