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 ....)