PM Key sees inflation heading lower, cuts RBNZ slack for now

Mon, 09 Mar 2015

By Pattrick Smellie March 9 (BusinessDesk) - Prime Minister John Key expects the annual rate of inflation to fall further than the 0.8 percent recorded in the year to December, but would not be drawn on whether the Reserve Bank should be cutting interest rates sooner rather than later to get inflation back towards its 2 percent annual target. Speaking at his post-Cabinet press conference and ahead of this Thursday's RBNZ quarterly monetary policy statement, Key said he expected interest rates to "stay lower for quite a lot longer." "Gi...

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