Market should recognise RBNZ's discomfort - more from McDermott
RBNZ's McDermott with more jawboning.
- RBNZ slightly more uncomfortable with level of NZD compared with May.
- Market should recognise out discomfort with recent NZD appreciation.
- Rates will stay at current levels for quite a long time.
- When asked about a rate rise in mid-2018, says "seems too early".
Kiwi is down 50 pips on the comments and down 100 pips from yesterday's highs.