RBNZ’s new governor rejects QE and capital controls


The new governor of the Reserve Bank of New Zealand, Graeme Wheeler, used an inaugural speech to the Admiral's Breakfast Club today (October 26) to rule out a cut in benchmark interest rates to bolster the economy and potentially weaken the kiwi dollar. Wheeler also dismissed the idea of New Zealand introducing its own version of quantitative easing (QE) and said currency controls would have a greater cost than benefit to the country.

Wheeler, who replaced outgoing Alan Bollard on September 25

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