Reserve Bank of New Zealand Assistant Governor and Head of Economics. John McDermott

  • Neutral interest rate has been falling, estimated at 3.5%
  • Estimate of core inflation is at 1.4%, inflation pressures are relatively moderate
  • Lower NZD would help rebalancing

NZD is on its session's low and dripping a little lower as I update, but not a lot of movement after these headlines

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Mc Dermott is Speaking in Wellington on the subject of economic trends and how they help implement the Bank's flexible inflation targeting framework

Full text: Looking at the Stars