Headlines via Reuters
- says trade links between new Zealand and Russia, Ukraine are minor, some impact on commodities
- too early to say what effect Russian situation might have on RBNZ policy
- still have more work to do on controlling inflation, need policy to be contractionary
- rates 100 basis points above neutral of 2.0% is reasonable from historical perspective
- says content with market pricing of rate outlook, 50 bps moves are a possibility if needed
- says wanted to give markets a strong message on our determination to control inflation
- heat coming out of housing market, prices were too high
Speaking of Ukraine ... back to the focus on what's going on there.
