Key Quotes from RBNZ Governor Wheeler in the report:
New Zealand’s economy and financial system remain subject to major challenges in the global environment.
New Zealand’s economy has performed better than many advanced economies in recent years.
International forces remain a major influence on the economy.
These include large declines in commodity prices, especially dairy and oil, low international interest rates, and record net immigration levels.
New Zealand’s monetary policy framework is flexible and supporting the economy’s adjustment to these significant external forces.
The Bank’s activities affect New Zealanders’ lives in many ways beyond its decision-making on monetary policy.
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