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

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