RBNZ statement is published now - policy to normalise eventually (over the medium term)

Author: Eamonn Sheridan | Category: Central Banks

From the Reserve Bank of New Zealand Statement of Intent.

Some points I picked out:
  • We are pleased to see economic activity in New Zealand returning to its pre-COVID-19 levels, supported by ongoing favourable domestic health outcomes, and improving global demand and higher prices for New Zealand's goods and exports. 
  • A catch-up in consumer spending and construction activity, supported by substantial monetary and fiscal stimulus is underpinning employment growth.
  • However, vulnerabilities still remain and the recovery needs continued monetary and fiscal support. 
  • As long as COVID-19 is contained and the global and economic recovery is sustained, eventually economic policy settings can be expected to normalise over the medium term.
 Bolding mine. 

I thought that last point a bit garbled. 

"Eventually ... over the medium term" I guess means .... over the medium term (whatever that is). 
The SoI outlines RBNZ's priorities.

Governor Orr is speaking later, at 0410 GMT.

From the Reserve Bank of New Zealand Statement of Intent.
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