31 Jan 2014
RBNZ's Wheeler speech: Adjustment in rates to begin soon
FXstreet.com (Bali) - RBNZ’s Wheeler, speaking at the Canterbury Employers’ Chamber of Commerce in Christchurch, said rates need to return to more normal levels, with an adjustment to begin soon.
Further headlines crossing the wires at the moment include: "High New Zealand dollar a headwind, would like to see it lower", also noting htat "RBNZ goal is to keep inflation near 2% target". Wheeler notes "inflation pressures are building, although said "house price inflation may be easing."
With reference to the pace of rate rises, Wheeler said it will be dependent on data. On house prices, he said they are overvalued but loan limits appear to be working, as highlighted earlier on the week. As per the prospects of the New Zealand economy, Wheeler said "Eurozone growth stumble and higher China debt risks to NZ growth."
Further headlines crossing the wires at the moment include: "High New Zealand dollar a headwind, would like to see it lower", also noting htat "RBNZ goal is to keep inflation near 2% target". Wheeler notes "inflation pressures are building, although said "house price inflation may be easing."
With reference to the pace of rate rises, Wheeler said it will be dependent on data. On house prices, he said they are overvalued but loan limits appear to be working, as highlighted earlier on the week. As per the prospects of the New Zealand economy, Wheeler said "Eurozone growth stumble and higher China debt risks to NZ growth."