Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

RBNZ Governor Wheeler Speech - NZD Lower

October 14 2015


RBNZ Governor Wheeler Speech - NZD Lower


The Reserve Bank Governor Graeme Wheeler has just made a speech to Institute of Finance Professionals Conference in Auckland.

His key points were:

• Some further easing in interest rates seems likely

• Easing depends on emerging flow of economic data

• Conscious of impact of low rates on housing

• Greatest concern at this point lies around China growth outlook

• Any substantial depreciation of the Yuan would have serious implications for the world economy

• US is the main bright spot in the global economy

• Monetary policy is relatively powerless to influence decisions that determine long-run economic performance

• There is little monetary policy can do to persistently lower an exchange rate

• Recent economic indicators have been more encouraging

• Mentions for a 2nd time some further easing seems likely, depending on data

NZD is lower in immediate response.

Here’s the link to the full RBNZ press release on the speech:

http://www.rbnz.govt.nz/news/2015/infinz-speech-oct-2015.html

Current indicative levels are:

NZD-USD 0.6635 / 0.6660
NZD-AUD 0.9155 / 0.9180
NZD-EUR 0.5830 / 0.5855
NZD-GBP 0.4345 / 0.4370
NZD-JPY 79.50 / 79.75


ends


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 


R&NTU: KiwiRail strike notices withdrawn following new offer

Strike notices on KiwiRail have been withdrawn. Rail and Maritime Transport Union General Secretary Wayne Butson says following negotiations between the RMTU and KiwiRail, a new offer from KiwiRail will be taken back to union members for ratification... More>>



Banking: Stress Tests Show Strengthening Bank Resilience

The latest stress tests carried out by the Reserve Bank of New Zealand – Te Pūtea Matua show strengthening resilience in the banking sector and the benefits of continuing to build capital buffers... More>>


Statistics: Building Activity Down In September Quarter
The volume of building activity in New Zealand fell 8.6 percent in the September 2021 quarter, compared with the June 2021 quarter, Stats NZ said today. Residential building activity fell by 6.4 percent in the September 2021 quarter, while non-residential building activity fell 12 percent... More>>



Reserve Bank: Deputy Governor Reflects On Time At RBNZ
Central bankers must continue to look forward to guard against the unpredictable, Deputy Governor Geoff Bascand says in a speech published today. Mr Bascand joined the Reserve Bank of New Zealand – Te Pūtea Matua in 2013 during the aftermath of the Global Financial Crisis... More>>


Xero: Data Reveals ICT Expenditure Key To Small Business Sales Growth
Xero, the global small business platform, today released a new report which shows New Zealand small business ICT expenditure has increased 25 percent compared to pre-pandemic levels - more than the UK (20%) and Australia... More>>


Fonterra: Lifts Forecast Farmgate Milk Price Range And Revises Earnings Guidance At First Quarter Update

Fonterra Co-operative Group today lifted its 2021/22 forecast Farmgate Milk Price range, reported a solid start to the 2022 financial year and revised its earnings guidance... More>>


Canterbury Museum: New Research - Bald Haast's Eagle Feasted On Moa Guts

New Zealand’s extinct Haast’s Eagle (Hieraaetus moorei), the largest known eagle, gulped down viscera like a vulture and may even have been bald, new research suggests... More>>