News Headline Summary

Reserve Bank of New Zealand's Wheeler says NZ needs to raise savings and investment levels, reduce barriers such as tax and regulation

Says:
- NZ's low productivity main reason for weak real capita GDP levels.
- NZ needs to return to fiscal surpluses and reduce public deficit.
- RBNZ to start consultation on macro-prudential tools in March.
- Priority to ensure prudential supervision and financial stability.
- RBNZ's best contribution to economy is price stability and reduce the risk of inflation surprises.

Reaction details:

- In the 5 mins after these comments, NZD/USD moved higher by 30 pips from .8392 to .8422, trades 84.20 (+35 pips) last

Print 00:05, 01 Feb 2013 - Asian News - Source: Newswires