Wheeler went from the RBNZ press conference to Parliament

  • RBNZ's ability to influence currency very limited
  • NZD outlook assumes a stronger USD
  • Fed rate increase 'would certainly be helpful'
  • Breakeven price for dairy farm payout about NZ$5.30/kg

McDermott may have had the most telling comment, saying the economy is forecast to run faster than potential. That's the kind of thing you say when you're not planning to cut rates anymore.

The New Zealand dollar had dipped a bit but it's pressing to the upside again at 0.7126, not far from the session high of 0.7140.

Update:

Wheeler is done for the day. He set rates, held a press conference, took a grilling from Parliament and wrapped it all up by 2pm local time.