RBNZ Press Conference

post: JAPAN'S PRIME MINISTER KISHIDA BELIEVES HIS RESIGNATION IS THE BEST WAY TO DEMONSTRATE THE LDP IS EVOLVING post: JAPAN'S PRIME MINISTER KISHIDA CALLS FOR THE CLOSURE OF THE SLUSH FUND MATTER WITH HIS RESIGNATION post: JAPAN PM KISHIDA: TO MAKE FULL EXIT FROM DEFLATION-PRONE ECONOMY, WE MUST PROMOTE WAGE, INVESTMENT GROWTH AND ACHIEVE TARGET TO EXPAND SIZE OF JAPAN'S GDP TO 600 TRLN YEN post: KISHIDA: IMPORTANT TO DO POLITICS THAT RESONATE WITH PUBLIC KISHIDA: TO MAKE FULL EXIT FROM DEFLATION-PRONE ECONOMY, MUST PROMOTE WAGE AND INVESTMENT GROWTH back to NIRP it isJapan Kishida: Must promote wage, investment growth for full exit deflation-prone economy Prime Minister Kishida press conference. He is announcing he won't be running to stay on as PM. • To make full exit from deflation-prone economy, we must promote wage, investment growth and achieve target to expand size of Japan's GDP to 600 trln yen. • Important to show new face of LDP in leadership race. • First step to do so is for me to step down. • Won't run for re-election as LDP leader. • Will fully support new leader. • Made this decision considering what's best for public. • Have no hesitation in taking responsibility as head of LDP for issues caused by members.

post: RBNZ'S ORR CONSIDERS 50BP RATE CUT, DECIDES ON 25 AS PER CONSENSUS post: RBNZ GOVERNOR ORR: WE CAN BEGIN NORMALIZATION OF INTEREST RATES post: RBNZ GOVERNOR ORR: DARKEST PERIOD FOR ECONOMY IS RIGHT NOW post: RBNZ'S ORR: 25 BASIS POINT RATE CUT IS A RELATIVELY LOW-RISK STARTRBNZ Governor Orr: Confident inflation back in its target band Reserve Bank of New Zealand Orr: • Confident inflation back in its target band. • Can commence re-normalising rates. • We considered a range of moves and consensus was for 25bps.