High kiwi, drought add to conflicting pressures on RBNZ ahead of review

High kiwi, drought add to conflicting pressures on RBNZ ahead of review
By Jonathan Underhill March 8 (BusinessDesk) – Reserve Bank governor Graeme Wheeler has an increasing number of moving parts to juggle in his assessment of monetary policy, with the kiwi dollar higher than forecast, a resurgent housing market and the impact of drought on economic output. Wheeler will keep the official cash rate at 2.5 percent when he releases his monetary policy statement on March 14, according to a Reuters survey of 19 economists. He would hike by 25 basis points in the fourth quarter and again in the first three months of...