Wheeler says keeping interest rates on hold ‘most prudent option’, eyes Auckland housing market

Wed, 04 Feb 2015

By Jonathan Underhill Feb. 4 (BusinessDesk) - Reserve Bank governor Graeme Wheeler acknowledged calls to cut interest rates, given the tumbling price of crude oil, before arguing that keeping rates on hold was the most prudent option given the potential for domestic inflation to accelerate. Wheeler set out the bank’s thinking in a speech to the Canterbury Employers’ Chamber of Commerce a week after he shifted monetary policy to neutral and said the next move in rates could be up or down. He said the biggest risks to the New Zealand econom...

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