NZ central bank, in neutral, will weigh drought, higher TWI in revising forecasts

Sun, 08 Mar 2015

By Jonathan Underhill March 9 (BusinessDesk) - The Reserve Bank of New Zealand will probably keep interest rates unchanged this week, reiterating that monetary policy is in neutral, while revising its forecasts to take in the impact of drought and a higher-than-expected trade-weighted index . Governor Graeme Wheeler's statement on Thursday is expected to be broadly in line with that released on Jan. 29, when he said headline inflation would probably stay below the bank's target 1 percent-to-3 percent band in 2015, and could turn negative,...

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