RBNZ: Removal of monetary policy stimulus is expected over time
|Following are the key headlines, via Reuters, from the summary of the Reserve Bank of New Zealand’s October monetary policy statement.
Monetary stimulus further reduced.
Appropriate to continue reducing the level of monetary stimulus
Cost pressures are becoming more persistent
Current covid-19-related restrictions have not materially changed the medium-term outlook for inflation and employment
Capacity pressures remain evident in the economy
Economic activity will recover quickly as alert level restrictions ease
Headline cpi inflation is expected to increase above 4 percent in the near term
Inflation to return towards 2 percent midpoint over the medium term.
Removal of monetary policy stimulus is expected over time.
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