RBNZ’s Wheeler: policy now has ‘neutral bias’
Risks to future rate movements “equally weighted”, governor says
The Reserve Bank of New Zealand's (RBNZ) projections for the path of the policy rate now have a "neutral bias", governor Graeme Wheeler told investors in Auckland today (March 2).
Though this means the risks around future rates moves are seen as "equally weighted", Wheeler said the balance of global risks appears to be to the downside. Domestically, there is some potential upside from immigration and commodity prices, but the outlook for inflation is roughly balanced.
The outlook appears
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