Wheeler says further easing may be needed as RBNZ holds
Mixed picture with dairy export prices improving but exchange rate still high
Further monetary policy easing "may be required" in New Zealand, to ensure inflation, now 0.4%, settles within the central bank's target range of 1–3%, governor Graeme Wheeler said today (April 28).
The Reserve Bank of New Zealand held its policy rate at 2.25% today, having cut it by 25 basis points in March. Wheeler, announcing the decision, noted global volatility had "eased" in recent weeks, while dairy export prices had "improved slightly", but remained below break even levels for most
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