RBNZ Governor Wheeler speaking to a parliamentary committee:

  • Says also concerned about inflation expectations

  • Says its monetary policy tools are working
  • It cut rate because of exchange rate pressures on the economy
  • Economy does not currently need a 50bp cut
  • Does not see a case for moving away from inflation targetting

more to come

Headlines via Reuters

This from Bloomberg:

  • Wheeler says central banks have run out of ammunition in many countries
  • Does not believe the RBNZ has run out of ammo

Yikes ....

I wonder what countries Wheeler is referring to. I could have a guess or two (or more ....)