RBNZ trying to understand unexpectedly weak inflation, McDermott says

Wed, 13 Jul 2016

By Paul McBeth July 13 (BusinessDesk) - The Reserve Bank is trying to understand why inflation has consistently undershot expectations over the past six years, which it sees as a strategic priority this year, assistant governor John McDermott says. In a speech explaining how the central bank arrives at policy decisions, McDermott told the Manawatu Chamber of Commerce that the RBNZ's forecasting team hadn't predicted the "persistent weakness in inflation or the persistent strength in the New Zealand dollar". The bank's team isn't alone in...

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