RBNZ constrained in influencing long-term rates, Wheeler says

Sun, 30 Nov 2014

By Paul McBeth Dec. 1 (BusinessDesk) - The Reserve Bank's influence over long-term interest rates is limited by global investor activity, and it may need to call on further macro-prudential tools to assist with policy, according to governor Graeme Wheeler. New Zealand's central bank hiked the official cash rate 100 basis points to 3.5 percent earlier this year, and is currently assessing the impact of those hikes, but that has had little impact on longer-term mortgage rates, which have followed long-term rates in major economies lower, Wh...

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