Reserve Bank of New Zealand Governor Wheeler press conference now

Assistant Governor Grant Spencer weighing in also

Wheeler:

  • Have not seen an acceleration of wage inflation in New Zealand
  • Does not see inflation pressure ramping up quickly
  • Non-tradables inflation rising only slowly
  • Lack of inflation pressure the main reason for keeping a neutral stance
  • We are neutral on monetary policy, expect OCR to remain at current level for the foreseeable future (if economy develops as we anticipate)

NZD slipping a little further as W talks ....

More:

Spencer:

  • Expects to see lots of volatility in inflation numbers

Wheeler:

  • A lot of uncertainty around trade protectionism

There is a live feed here, but I'll be sticking up a few headlines in the post too if you'd prefer watching/listening to something else

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Earlier, the RBNZ providing a bit of a surprise by maintaining a neutral bias, there were reasonable expectations, quite widespread, that the Bank would move more towards a tightening bias .... but, nope ...: