Wheeler aims to get NZ inflation back to target within a year

Graeme Wheeler, RBNZ

The Reserve Bank of New Zealand (RBNZ) is aiming to return inflation to around 2% in "about nine to 12 months' time" according to governor Graeme Wheeler, who today (July 29) reiterated the likelihood of additional interest rate cuts in coming months.

Headline inflation is currently 0.3%, while the RBNZ expects it to return to the midpoint of its 1–3% target band in "early 2016". Wheeler today described this as "an appropriate speed of adjustment". 

He warned that attempting to return inflation

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