- Analytics
- News and Tools
- Market News
- RBNZ chief economist conway: Inflation is high and widespread because strong demand outstripped supply
RBNZ chief economist conway: Inflation is high and widespread because strong demand outstripped supply
Reserve Bank of New Zealand Chief Economist Paul Conway on Thursday said interest rates were clearly in the contractionary territory and causing a welcome slowdown in demand in the economy, though it was not yet clear that inflation expectations were under control, as Reuters reported.
He was also reported saying that the 450 basis point rise in interest rates over the last 18 months was still "percolating" through the economy and would likely further weigh on consumer spending.
Reuters noted that he said that it was unclear whether inflation expectations were falling fast enough to mean current and projected rate setting were high enough to be disinflationary.
NZD/USD update
The NZ Dollar flew to a fresh high for the month at 0.6282 and was up from a low of 0.6171 on the back of a dovish Federal Reserve on Wednesday.
The bulls are moving back in on Thursday and eye a break of the 0.6280s.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
