Wheeler's comments here
I had the response from BNZ here earlier
I'm working my way backward up the alphabet, here's ANZ (ANZ NZ Chief Economist Bagrie) on his speech:
- This should put thoughts of 50bp cuts to bed
- Suggests the hurdle to a September cut is high
- Market chatter ahead of time speculated that some attempt would be made to talk down the TWI, or remind the market that the risks to the economy (and thus the OCR) remain skewed to the downside. There was no such talk, and consequently, the NZD spiked around 50bps higher immediately.
- We continue to expect a measured approach, with easings likely in November and February
