We focused on being operationally ready to implement a negative OCR if necessary. Its actual use will always depend on the economic context at the time, and its relative efficacy. Selecting the appropriate policy mix The past few months have shown remarkable adaptability and resilience by policymakers internationally, and in New Zealand.
•  How does the exchange rate influence the economy within the framework of domestic monetary policy? Before addressing these questions, please allow me to briefly explain the principles of monetary policy.