RBNZ Bascand: Monetary policy should remain accommodative

Reserve Bank of New Zealand Deputy Governor Geoff Bascand is giving a speech on New Zealand's Labour Market, noting that monetary policy should remain accommodative.

Headlines

Labour supply and demand roughly in balance

Strong labour supply factor in keeping policy accommodative

Recent increases in real wages unsustainable in long run without higher productivity

Concerned recent declines in inflation expectations could become embedded in low wage settlements