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12 Sep 2013
RBNZ Wheeler press conference: If loan limits not effective, will have to rethink...
FXstreet.com (Barcelona) - Additional comments by the RBNZ Governor Wheeler, at the post RBNZ monetary policy press conference, are hitting the wires, with a recap below.
According to Wheeler, the NZ economic recovery is becoming more broad-based, which makes the case to raise rates next year. On the exchange rate, while the official monetary statement emphasized it remains elevated, Wheeler said "lower FX rate would support export industries, as high NZD constraining export industries." Lastly, Wheeler said that if the macro-prudential measures on limiting loans are not effective, will have to rethink monetary policies, which implies a slight risk in stance.
Wheeler is due to speak in front of a parliamentary committee at 1.10GMT today.
According to Wheeler, the NZ economic recovery is becoming more broad-based, which makes the case to raise rates next year. On the exchange rate, while the official monetary statement emphasized it remains elevated, Wheeler said "lower FX rate would support export industries, as high NZD constraining export industries." Lastly, Wheeler said that if the macro-prudential measures on limiting loans are not effective, will have to rethink monetary policies, which implies a slight risk in stance.
Wheeler is due to speak in front of a parliamentary committee at 1.10GMT today.