RBNZ’s Wheeler – Inflation expectations would need to rise for OCR hike

RBNZ governor Wheeler, while speaking before a parliamentary committee, said the Official Cash Rate (OCR) could go higher only if the inflation expectations rise and there is evidence of a pickup in inflation. 

Key quotes

Not seeing acceleration in wage inflation

Does not expect a rapid move in inflation

More from Wheeler

RBNZ's Wheeler: There is a lot of uncertainty around trade protectionism

RBNZ's Assistant Gov Spencer: We are expecting to see lots of volatility in inflation numbers

RBNZ's Wheeler: Lack of inflation pressure main reason for keeping neutral stance

RBNZ's Wheeler: Maybe some increase in house price inflation "but nothing like we've seen in the past"