The Reserve Bank of New Zealand (RBNZ) refused to heighten involvement rates for the minute fourth dimension this twelvemonth on Wednesday, citing “on-going surplus capacity inwards the global economic scheme together with extensive geo-political uncertainty.”
In today’s statement, RBNZ Governor Graeme Wheeler said monetary policy across the public volition stay accommodating, amongst the exception of the United States, where involvement rates accept begun to rise.
Governor Wheeler equally good mentioned the
poor Q4 gross domestic product figure for 2016, which came inwards at 0.4 percent, only he dismissed this impress equally a temporary occurrence, stating that the New Zealand economic scheme is on corporation basis amongst “strong population growth, together with high levels of identify spending together with structure activity.”
More notably, the governor
RBNZ's calls for a weaker currency on Feb 8, 2017, caused the New Zealand dollar to depreciate past times 6% over a 30-day period.
NZD flag icon past times Free Stock
