There may need to be more monetary easing next year if inflation persists at low levels, says Grant Spencer, governor of the Reserve Bank of New Zealand.
Speaking today (December 5) in Auckland, Spencer said persistently low inflation has prompted the reserve bank to “think about” the need to tweak the monetary policy approach, which has already brought the official cash rate to a record low of 1.75%.
In the November monetary policy statement, the RBNZ said non-tradables inflation and core inf
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