It all comes down to the inflation target: BNZ's Toplis

Wed, 13 Mar 2019

By Jenny Ruth March 13 (BusinessDesk) - If the Reserve Bank of New Zealand were to adopt the Reserve Bank of Australia’s inflation target, “we should be considering easing relatively aggressively,” says Bank of New Zealand's head of research Stephen Toplis. The RBNZ’s inflation target is 2 percent, the midpoint of its 1-3 percent range while the RBA’s target is 2.5 percent. Conversely, Toplis says that if the RBA adopted the RBNZ’s target, “there would be very little argument for a rate cut in Australia.” Financial markets have full...

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