Reserve Bank of New Zealand Governor Graeme Wheeler reiterated he intends to start raising interest rates soon to contain inflation and said he’ll have more information to assess the economy’s outlook in March.
Australia’s central bank maintained the option of loosening monetary policy further as it weighed an “uncomfortably high” currency against signs interest-rate cuts were working to stimulate the housing market and economy.
Australia’s Treasurer Wayne Swan said the local currency’s strength reflects the health of the economy, and said the government supports a floating currency. Swan made the comments in an e-mailed statement today.
With the Australian dollar’s rise, Sydney is now an expensive place to dine by global standards. Thankfully, creative chefs, fresh ingredients and spectacular settings mean diners aren’t short changed.
Australia’s central bank should maintain easy policy settings as a mining-investment slowdown and a local currency about 10 percent overvalued drag on economic growth, the International Monetary Fund said.