RBNZ: Further easing is likely needed to return inflation goal

Following are the key quotes, via Bloomberg, from RBNZ economic outlook’s update released at 21:00 GMT, where the central bank states that more easing is "likely needed to return inflation to target."

• A decline in the exchange rate is needed.
• Monetary policy will continue to be accommodative.
• Long-term inflation expectations are well anchored.
• NZ dollar rate is holding down tradable good inflation, currency markets make it difficult to meet inflation objective.
• Many uncertainties around the outlook.