Reserve Bank's Wheeler says immigration forecasts were wrong, gets quizzed by Peters

Wed, 07 Dec 2016

By Sophie Boot Dec. 7 (BusinessDesk) - Reserve Bank Governor Graeme Wheeler said he accepts the central bank got its migration forecasts wrong but it was hard to know how much inward migration New Zealand would attract under current policies. Migration forecasting was "tough, and we've been wrong in our forecasts, as I think pretty well every other forecaster has," Wheeler told the finance and expenditure select committee this morning. "If you look at net permanent long-term migration of working age population, it's been 173,000 people si...

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