'Spooked' Wheeler and the tricky exchange rate
Absence of any real inflation sends the Reserve Bank governor back to the monetary policy drawing board.
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EARNINGS
"Spooked" is how one economist described the Reserve Bank's official cash rate review this morning.
Bank of New Zealand head of market economics Stephen Toplis says the central bank has been spooked by inflation.
"It can't find any."
That lies not so much behind this morning's decision to hold
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Rob Hosking
Fri, 31 Oct 2014
Fri, 31 Oct 2014
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'Spooked' Wheeler and the tricky exchange rate
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