RBNZ's Bascand: Consumer caution has contributed to low inflation in NZ

Reserve Bank of New Zealand (RBNZ) deputy governor Bascand was on the wires last minutes, commenting on NZ inflation outlook.

Key Headlines via Reuters/ Bloomberg:

NZ consumers more prudent since GFC, spending less of windfall from rising household wealth

Consumer caution has contributed to low inflation in NZ

Expects per=capita consumption to pick up over time, wary in case it does not

NZ not facing secular stagnation as some other developed economies

NZ working through prolonged but temporary debt overhang

Global disinflation will remain a headwind to NZ inflation target