The RBNZ may further embark on its rate easing cycle at its last meeting for 2019 as Deputy GovernorGeoff Bascand reveals that “the Reserve Bank is undertaking further preparatory work on less conventional monetary policy tools.” The comments suggest Governor Adrian Orr and Co. will continue to push monetary policy into uncharted territory as the central bank reiterates that “there remains scope for more fiscal and monetary stimulus if necessary.” In turn, a 25bp rate cut along with a dovish forward guidance may keep NZD/USD under pressure especially as the Federal Reserve appears to be on track to retain the current ... (full story)