New Zealand central bank in no hurry to remove stimulus, RBNZ official says
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[WELLINGTON] New Zealand's central bank is in no hurry to remove economic stimulus and tighten monetary policy, assistant governor Christian Hawkesby said on Tuesday, adding that markets will inevitably have "false starts" as they try to get ahead.
"Markets are keen to get ahead of central banks but there will inevitably be false starts and that is why we are seeing some of the volatility in bond markets at the moment," Mr Hawkesby told Reuters in an interview.
"Our approach is to continually remind markets that we are going to be patient, and we are in no hurry to remove stimulus,"he added.
The Reserve Bank of New Zealand (RBNZ) held rates last week and said it would maintain easy policy settings for a prolonged period.
REUTERS
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