Graeme Wheeler is governor of the Reserve Bank of New Zealand

He is speaking at a private event, but the bank have published the text of his speech (topic is Monetary policy challenges in turbulent times)

more to come

  • Don't need rapid easing
  • Don't see need for no policy change

Headlines via Bloomberg

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NZD higher on the ' Don't need rapid easing ' headline from his speech

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The full text is here: Monetary policy challenges in turbulent times

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More:

  • NZD too high
  • Expectations on policy often run ahead of reality

(D'uh)

  • Low headline inflation could dampen price expectations

More still:

  • rapid rate cuts would result in unsustainable growth
  • Rapid rate cuts would further inflame property mkt