RBNZ Chief Economist Conway says the full impacts of the United States' tariffs are uncertain and the central bank is constantly monitoring the data.
- He notes that uncertainty over tariffs is likely to dampen business investment and reduce inflation in New Zealand.
- Conway also says the tariffs will lead to a weaker global economy and softer global demand.
- Q2 CPI data were very much in line with RBNZ expectations
- He sees scope to lower rates further if inflation continues to moderate
- Early data reads suggest NZ economic growth slowed in the June quarter
