RBNZ Assistant Governor McDermott speaking on 'Understanding Low Inflation in New Zealand'
- Further policy easing will be required
- RBNZ will continue to be accommodative
- Annual CPI inflation for September quarter is going to be low
- Inflation expected to rise in the December quarter
Full speech, Understanding low inflation in New Zealand, available from here
NZD has been weak all session (USD strength pretty much across the board) and is plumbing new lows after this:
Kiwi has taken over from GBP as the day's biggest loser.
Shame NZD, shame! :-D
