Reserve Bank of New Zealand Deputy Governor Hawkesby:
- While near-term inflation risks are to upside, confident medium-term inflation is returning to target
- No single data point will cause rate hike, watching domestic inflation pressures, expectations
- Cutting interest rates is not part of near-term discussion
- A lot of uncertainty about tradable inflation going forward
Hawkesby making patient comments on the interest rate path ahead for the RBNZ. Cuts are coming, just not soon.
