RBNZ Wheeler: Some further exchange rate depreciation desirable

FXStreet (Bali) - Comments from Reserve Bank of New Zealand Governor Wheeler keep crossing the wires, noting that some further exchange rate depreciation desirable.

Additional headlines

Most risks facing the economy are on downside

To take longer for headline inflation to reach target

Fixation on headline inflation would be inappropriate

RBNZ may ease further if global outlook worsens

Inappropriate to cut rate in response to low oil price

Don't want price expectations to drop significantly

RBNZ will avoid mechanistic response to low inflation

Encouraging that inflation expectations average 2%

RBNZ monetary policy will continue to be accommodative