RBNZ’s Ha sys too early to say impact of Ukraine on RBNZ monetary policy

Headlines via Reuters

says trade links between new
Zealand and Russia, Ukraine are minor, some impact on commoditiestoo early to
say what effect Russian situation might have on RBNZ policystill have more work to do on
controlling inflation, need policy to be contractionaryrates 100 basis points above neutral of
2.0% is reasonable from historical perspectivesays content with market pricing of rate
outlook, 50 bps moves are a possibility if needed says wanted to give markets a strong message
on our determination to control inflation heat coming out of housing market,
prices were too high

Speaking of Ukraine … back to the focus on what’s going on there.

yuong ha rbnz

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