RBNZ’s Spencer: monetary policy will have more bite
Grant Spencer, the deputy governor of the Reserve Bank of New Zealand, on Monday said the economy is likely to be more sensitive to interest rate movements than before the crisis to due higher funding costs.
In remarks at a symposium on financial sector governance at the University of Auckland, Spencer said: "Going forward, medium term price stability will remain the primary objective of monetary policy. However, we expect that monetary policy will have more bite over the next few years than it
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