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RBNZ Wheeler: Some further exchange rate depreciation desirable

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 3, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Bali) - Comments from Reserve Bank of New Zealand Governor Wheeler keep crossing the wires, noting that some further exchange rate depreciation desirable.

    Additional headlines

    Most risks facing the economy are on downside

    To take longer for headline inflation to reach target

    Fixation on headline inflation would be inappropriate

    RBNZ may ease further if global outlook worsens

    Inappropriate to cut rate in response to low oil price

    Don't want price expectations to drop significantly

    RBNZ will avoid mechanistic response to low inflation

    Encouraging that inflation expectations average 2%

    RBNZ monetary policy will continue to be accommodative
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