RBNZ’s Wheeler speaking now:

  • Rate pause has nothing to do with election
  • Market sees next rate rise in April next year

Just as a note … Wheeler has said again that the market sees the next rate rise in April next year (i.e he has said this twice now)

  • Says inflationary pressure is less than the RBNZ anticipated
  • Pause in rate hikes depends on inflation and exchange rate
  • Move towards budget surplus will be a drag on growth
  • Says house prices continuing to moderate

more to come