- Rates need to return to more normal levels, adjustment to begin soon
- High New Zealand dollar a headwind, would like to see it lower
- RBNZ goal is to keep inflation near 2% target
- Says inflation pressures are building
- Says NZ house price inflation may be easing
- Speed and scale of rate rises dependent on data
- House prices overvalued but loan limits looking to be having an impact
- Eurozone growth stumble and higher China debt risks to NZ growth
Reserve Bank Governor Graeme Wheeler speaking at the Canterbury Employers’ Chamber of Commerce in Christchurch. The speech released at 1pm local time (0000GMT).
(We expected him to talk about rate rises and his desire for a lower NZD … 2 fer 2 !) OK … it wasn’t a difficult call
Full text: The building blocks of the economic expansion ( or PDF 1.1mb)
