15.11.201902:48:00UTC+00RBNZ Orr Expects Economy To Recover In 2020

Reserve Bank of New Zealand Governor Adrian Orr said the economy is not in a recession but it is expected to recover over 2020.

"It is possible that uncertainty could clear up in the coming year if there is closure on the topics of Brexit and trade tensions," he said in a panel remarks delivered to Federal Reserve Bank of San Francisco on Thursday. "We are readying ourselves if we need to act further."

The governor said the bank will continue to communicate and offer forward guidance as to future path of policy.

"In the near future, we will publish the principles that guide our thinking on unconventional tools, and we are currently working our way through operational considerations of the different options," Orr added.