RBNZ's Wheeler keeps OCR at 2.25%, sees inflation accelerating; kiwi jumps

Wed, 08 Jun 2016

By Paul McBeth June 9 (BusinessDesk) - Reserve Bank governor Graeme Wheeler left the official cash rate unchanged, saying he expects an eventual pickup in inflation as the New Zealand dollar falls, oil and dairy prices rise, and capacity pressures increase. The kiwi dollar jumped to the highest level in almost 12 months after his statement. "We expect inflation to strengthen reflecting the accommodative stance of monetary policy, increases in fuel and other commodity prices, an expected depreciation in the New Zealand dollar and some incr...

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