The RBNZ Governor Wheeler gave a speech last week in Auckland where he defended the RBNZ’s policy decision to keep interest rates steady.
He said that there were significant downside risks to the outlook from the global economy, especially the protectionist policies from the new U.S. administration. On the domestic front, the RBNZ Governor highlighted the imbalances in the housing markets as the main risk.
Markets have been speculating on when the RBNZ will be hiking interest rates next. It is almost a certainty that the next policy change from the RBNZ will be a hike in interest rates, but it is now a question of when. The OCR is expected remain unchanged at 1.75%, when the RBNZ meets later this month.
Read more: https://www.orbex.com/blog/2017/03/rbnz-gov-wheeler-reiterates-no-changes-ocr-near-term/