Comments from the RBNZ deputy on TV
- New Zealand economy very resilient
- We need to keep removing stimulus
- Risks to outlook are finely balanced
- We have a tight labor market
- Inflation expectations will be key
- We see a risk that inflation expectations could rise
This is similar talk to what we're hearing from most major central bankers. The difference is that the RBNZ started hiking rates this week. The market hasn't been impressed so far but it's tough to bet against a central bank in a rate hiking cycle.