Wheeler downplays scope for 'large' rates fall; kiwi gains

Tue, 28 Jul 2015

By Jonathan Underhill July 29 (BusinessDesk) - Reserve Bank governor Graeme Wheeler says some market commentators are predicting further declines in interest rates that would only make sense for an economy in recession, although some easing is likely to be needed to maintain New Zealand's economic growth. Wheeler gave a balanced view of the economy in a speech to an ExportNZ/Tauranga Chamber of Commerce meeting. While repeating that further depreciation in the New Zealand dollar is necessary "given the weakness in export commodity prices...

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