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Wheeler Says RBNZ Likely Done Cutting Rates as Economy Grows
New Zealand central bank Governor Graeme Wheeler said interest rates are probably low enough to return inflation to his 2 percent goal amid a robust economic expansion.The Reserve Bank indicated last month that its official cash rate is likely to remain at a record-low 1.75 percent for some time, and latest developments “do not cause us to change our view,” Wheeler said in a speech posted on the RBNZ’s website Thursday. “We expect monetary policy to continue to be accommodative, and that the projected policy settings will help generate sufficient growth to have inflation settle near the middle of the target ... (full story)
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