Subject to incoming data – we are and should remain data-driven – both the economic outlook and the principles I have outlined justify ending net asset purchases and then gradually exiting negative rates. This would allow us to continue to normalise policy by removing the part of our monetary accommodation that is no longer needed today.
Raising domestic savings relative to our investment needs appears the best way to sustainably lower New Zealand’s real interest rates and take the pressure off the real exchange rate. BIS central bankers’ speeches  5