New Zealand's central bank chief economist, Paul Conway, said on Tuesday that recent economic data suggests monetary policy is working but there is still a way to go before inflation returns to its midpoint of 2%. "Monetary policy is working, with the economy slowing and inflation falling. But we still have a way to go," Conway said at a webcast organized by the central bank. Since the Reserve Bank of New Zealand's last decision at the end of November, data has shown New Zealand's economy is weaker than the RBNZ had forecast and inflation is easing slightly quicker than expected. Conway added that some of the recent ... (full story)