RBNZ holds interest rate, says monetary policy will remain accommodative for a considerable period

Market news

8 February 2018

RBNZ holds interest rate, says monetary policy will remain accommodative for a considerable period

Sees annual CPI 1.7 pct by march 2019 (pvs 2.0 pct)
Domestic economic growth is projected to strengthen
NZD has firmed, assume it will ease in the period ahead
Future headline inflation expected to tend upwards towards the midpoint of the target band
Longer-term inflation expectations remain well anchored at around 2 percent
Numerous uncertainties remain and monetary policy may need to adjust accordingly
Labour market conditions continue to tighten
GDP growth in second half is expected to strenghthen

Reserve Bank of New Zealand governor Grant Spencer says market volatility a "bit of a warning sign", shows nervousness towards interest rate normalisation

10-year U.S. treasury yield at 2.814 percent vs U.S. close of 2.832 percent on wednesday

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