More fundamentally, we also need to ensure we can coordinate an appropriate mix of fiscal and monetary policy responses if so desired. •  What additional policy responses might we need to consider to manage some of the consequences of low interest rates and market functioning? We could consider additional macroprudential tools and specific market interventions to ensure liquidity and credit flows.
But we need to assess how best we communicate to all participating in the New Zealand economy as to the purpose of our actions, and our desired outcomes. New Zealanders have become used to the terminology associated with our current monetary policy activities.