ADRIAN ORR our NEW RBNZ GOVERNOR

[FTG]

Negative 2% to 3% max because people won't deposit cash into retail bank's, you would be charged for depositing your salary/and savings into a bank account.

Following the decreasing trend line of the OCR over the last 40 years, this should happen sometime this decade or early 2030 depending on how the world economy play's out.

That's when they will replace the kiwi.

Word to the wise, you might want to start growing your asset base.

Time's running out.

Well, none of us really know, but I'm sure we can agree that only time will tell huh.

Re your negative 2-3% max figure, what I would respectfully suggest is that you may need to take a much broader view!

For us to go back into a sustained negative interest rate environment, some structural changes with the macro-economic situation will likely have occurred. If we then went through a period of "Bail-IN's" (Note: not bail outs) then unbelievably from today's viewpoint, but quite conceivably from a non-emotional perspective, we could then see interest rates FAR lower than negative 3%.