At yesterday’s Monetary Policy Statement (MPS) release the Reserve Bank of New Zealand (RBNZ) genuinely surprised financial markets, by assessing that the economic data received since February had a neutral impact on the appropriate stance of monetary policy. While in the lead up many commentators had focused on the recent jump in annual Consumer Price Index (CPI) inflation, the RBNZ’s response could be summed up as “what inflation?” read more.....
Publication by Harbour Asset Management