WELLINGTON: New Zealand's central bank said on Friday it wanted as much transparency and clear communication about its work to anchor economic expectations, including keeping interest rates low.
The Reserve Bank of New Zealand (RBNZ) said it was working to improve its communications of policy and its regulatory responsibilities to support monetary policy and inflation expectations.
"This, in turn, means that we are able to respond to economic shocks by adjusting interest rates less than would otherwise be the case," RBNZ Deputy Governor Geoff Bascand said in a speech.
The central bank has said it expects to raise interest rates, which have been at a record low 2.5 percent since April 2011, sometime in 2014 to counter growing inflation pressures for a stronger economy.
Analysts polled by Reuters overwhelmingly expect the tightening cycle to start in March next year.
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