March 9, 2020 / 4:07 AM / a month ago

NZ finance minister says unconventional monetary policy not on the cards

WELLINGTON, March 9 (Reuters) - New Zealand’s finance minister said on Monday that unconventional monetary policies were not on the cards at the moment, as he announced plans for a business continuity package to support people affected by the coronavirus epidemic.

Grant Robertson’s comments come ahead of a speech by Reserve Bank of New Zealand (RBNZ) Governor Adrian Orr on Tuesday about unconventional policy tools.

Robertson said he had spoken with Orr about the speech and said it was important to get some clarity on options that are available.

“Were unconventional monetary policy to be deployed, which I might say is not on the cards, but were it to be deployed ....there will be discussions with the government,” Robertson said at a news conference. (Reporting by Praveen Menon; Editing by Kim Coghill)

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