RBNZ’s Gai: Nothing suggests an automatic tightening bias
Reserve Bank of New Zealand (RBNZ) board member Prasanna Gai said on Monday that pre-emptive tightening requires strong synchronization and an active coordination mechanism.
Key quotes
Nothing suggests an automatic tightening bias.
Pre-emptive tightening justified only when synchronization is strong and coordination mechanism active.
Conditions Justify the Look-Through Approach Recommended by Conventional Framework.
Market reaction
At the time of writing, the NZD/USD pair is trading around 0.5910, up 0.20% on the day.
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