Thursday, 6 March 2008, 9:16 am Press Release: J P Morgan
RBNZ - neutral commentary with downside risks to growth,
upside to inflation
On hold for an extended period.
As
expected, RBNZ acknowledged downside risks to growth
(housing, drought and trading partner growth concerns),
upside to inflation (fiscal spending, emmissions trading and
commodity prices). Growth has been downgraded substantiallly
- lower consumption and res investment. No real surprises in
commentary.
Weaker outlook, but no scope to ease anytime
soon.
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