RBNZ's Wheeler opens door for more rate cuts with inflation set to rise more slowly; kiwi drops

Wed, 27 Jan 2016

By Paul McBeth Jan. 28 (BusinessDesk) - Reserve Bank governor Graeme Wheeler has opened the door for further interest rate cuts as a worldwide oil glut depresses petrol prices and looks set to keep inflation outside the bank's target band for longer than expected. The kiwi dollar fell. Wheeler kept the official cash rate at 2.5 percent, saying monetary policy will need to stay loose as inflation takes longer to pick up. Government figures last week showed the consumer prices index was dragged down by cheap fuel, rising just 0.1 percent in...

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