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 ...:
