Comments from ASB chief economist on Reserve Bank of New Zealand monetary policy in an interview and crossing on the Bloomberg:
- RBNZ will keep cash rate at 3.5% for another 2 years
- ASB had previously forecast a rise in Q4 of 2015
- Says underlying inflation is benign
- Thinks that the RBNZ will want to be sure it is getting inflation at or around 2% before it acts again
- May not raise rates again this cycle
Meanwhile, the NZD has found a little buying ahead of 0.7620
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