Wheeler appearing before a parliamentary committee

  • Not seeing wages inflation accelerating
  • Does not expect inflation to move rapidly
  • For there to be a rate hike, inflation expectations would need to rise
  • Would need to see evidence of inflation starting to pick up

(In statements today the Bank says it sees the higher inflation in Q1 as transitory only)

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Earlier from the Reserve Bank of New Zealand :

  • RBNZ: No change to cash rate
  • Forex technical analysis: NZDUSD tumbles after RBNZ does not budge.
  • RBNZ Wheeler: Does not see inflation pressure ramping up quickly
  • RBNZ Assistant Gov. McDermott: Not unhappy with fall in NZD