Reserve Bank of New Zealand Governor Spencer's media conference
- says no reason to alter OCR forecasts in light of recent equity volatility
- market volatility a "bit of a warning sign", shows nervousness towards interest rate normalisation
- if volatility translates into interest rate markets it would be an upside risk on the bank's interest rate track
- confident we are heading towards the inflation target and that policy stance in sensible
- we are reasonably close to neutral level of unemployment
- next rate move could be up, or it could be down
Earlier:
ps. LIVE stream here
