RBNZ's McDermott affirms rate cut bias to stoke moribund inflation

Tue, 11 Oct 2016

By Paul McBeth Oct. 11 (BusinessDesk) - The Reserve Bank still expects to cut interest rates further to try and stir inflation that's been kept low by a weak global economy, though the bank isn't concerned that consumer prices will start falling, says assistant governor John McDermott. In a speech to the Bay of Plenty Employers and Manufacturers' Association in Rotorua, McDermott said monetary policy will continue to be accommodative for the time being, and on current projections more easing is needed to lift the consumers price index. T...

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