NZ labour market 'balance' caps wage inflation, justifies accommodative policy, RBNZ's Bascand says

Thu, 07 Apr 2016

By Jonathan Underhill April 7 (BusinessDesk) - The largest recorded surge in migration in a century has helped drive New Zealand's economic growth but has also boosted the labour force, keeping a lid on wage inflation, says Reserve Bank Deputy Governor Geoff Bascand. In a speech at Otago University, Bascand said central bank researchers had created a labour utilisation index that showed supply and demand in the labour market "have been broadly in balance since early 2014, creating little upward pressure on wages." "Stronger than expect...

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