- The biggest change in the RBNZ statement was dropping the reference “need for higher rates”
- The bank expects to keep the OCR on hold for some time
- RBNZ: The high exchange rate, low global inflation, and falling oil prices are causing traded goods inflation to be very weak
- RBNZ: Headline annual inflation is expected to be below the target band through 2015, and could become negative for a period before moving back towards 2 percent, albeit more gradually than previously anticipated
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