RBNZ’S CONWAY: RATES NEED TO STAY RESTRICTIVE FOR A SUSTAINED PERIOD, DECLINES IN CORE INFLATION ENCOURAGING
The Reserve Bank of New Zealand (RBNZ) Chief Economist Paul Conway said on Wednesday that the falls in inflation are encouraging. Conway added that interest rates will need to stay restrictive for a sustained period of time.
Market reaction
The RBNZ’s Conway speech had little to no impact on the New Zealand Dollar. NZD/USD was trading at 0.6090, up 0.07% on the day
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