Reserve Bank of New Zealand Governor Wheeler comments hitting the wires from his presser
He's mainly talking about the housing market ...
- Watching Auckland house situation very carefully
- Auckland house prices among most expensive in the world
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- Sustained El Niño could have a big impact on growth
(Wheeler commenting on a weather phenomenon)
- Have potential to cut rates substantially if needed
- Wasn't a mistake to raise rates in 2014
- Plenty in the tank if things gets worse than expected
- Says raising rates last year was right decision
(I wonder if Yellen is watching his comments on his back pedaling on rates. Is she concerned she might have to do the same if she hikes?)
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- Significant yuan devaluation would be a big worry
