From his press conference following the decision to hike this morning
Earlier comments here and here
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Wheeler still at the press conference, asked about the risks to the NZ economy said the big one is China but it is still growing.
The live webcast is here , thanks to Adam S in the comments.
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ps.
Westpac’s early reaction to this morning’s decision:
The RBNZ is clearly signalling another hike by September, plus one more after that by the end of the year. Westpac is currently forecasting hikes of 25bp in each of September and December. If anything, the tone of today’s statement increases the likelihood of the RBNZ hiking in July, rather than September. We will reassess our OCR call later today, with an eye to calling for a July hike. -The broad tone of the statement was very much in line with our expectations. The RBNZ did not change its forecast of 90-day interest rates, because recent positive surprises (such as strong net immigration) balanced recent negative surprises (such as falling dairy export prices). The RBNZ’s economic forecasts are similar to our own, anticipating very strong GDP growth and slowly rising inflation.
