Wheeler cites flexible policy targets, argues against knee-jerk rate cuts

Wed, 03 Feb 2016

By Jonathan Underhill Feb. 3 (BusinessDesk) - Reserve Bank governor Graeme Wheeler has emphasised the flexibility written into his inflation policy targets agreement, which means he has to look beyond weak headline inflation in deciding whether to cut interest rates. Wheeler singled out slower growth in China, which accounted for 40 percent of global growth in 2014, as the biggest risk to New Zealand and the global economy in a speech today to the Canterbury Employers’ Chamber of Commerce, but he also cited supply-side shocks that are pos...

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