Comments from RBNZ assistant Gov McDermott: Monetary policy to remain stimulatory RBNZ remains vigilant in watching price setting Monetary policy will help boost GDP, inflation Near-zero inflation mostly due to tradables RBNZ not considering any increase in interest rates at present Evidence of weaker demand would prompt consideration of lower interest rates Rising currency as prices fall 'is unwelcome' The kiwi was softening ahead of the comments but continued to fall as the comments got increasingly dovish. One thing to keep in mind is that the RBNZ is a dictatorship. Wheeler sets rates alone, although he takes ... (full story)