The RBNZ should stand ready to ease further if necessary, said the International Monetary Fund on Monday, adding that NZD is now less overvalued than it was.
Headlines
Still might be around 10% overvalued … but “uncertainties around these estimates”
Say the current accommodative monetary stance appropriate
If needed, RBNZ should stand ready for further easing given low inflationary pressures and below potential output
Economy continues to perform well
Fall in dairy prices
Slowing in Canterbury rebuild
Slower growth in economies offshore of trading partners
Medium-term prospects remain positive
(Market News Provided by FXstreet)
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