Reserve Bank of New Zealand (RBNZ) Governor Adrian Orr said on Tuesday that it is undertaking a review of its recent performance in conducting monetary policy, per Reuters.
Key quotes
The review will assess inflation and employment outcomes relative to the targets outlined in the remit and the decisions taken at various times based on the information available when they were made.
The review of monetary policy performance is in addition to an ongoing review of the Monetary Policy Remit.
NZD/USD retreats
Following the news, NZD/USD reverses the early Asian session run-up while taking rounds to 0.6265-60.
Also read: NZD/USD oscillates around 0.6250 amid sluggish session, US Consumer Confidence eyed