News Headline Summary

RBNZ governor Wheeler says appropriate for policy to be held steady, low inflation due to overvalued NZD

Says:
- High NZD undermines export profitability.
- Does not want to see financial stability or inflation risk accentuated by housing demand.
- watching house price inflation and household credit growth.
- Growth to strengthen over the coming year.

Reaction details:

- In reaction to these comments NZD/USD rose 23 pips going from 0.8319 to 0.8342

Print 20:01, 30 Jan 2013 - RBNZ - Source: Newswires