RBNZ’s McDermott: RBNZ has a clear inflation objective

John McDermott, RBNZ’s assistant governor, was on the wires now, via MNI, commenting on the central bank policy.

Key Quotes:

Has a clear inflation objective

Neutral rates, output gap central to policy implementation

Communicating uncertainty is not without challenges

Making monetary pol faces challenges

Market knows policy will be adjusted in multiples of 25bp