RBNZ Governor Wheeler: No need for rapid rate cuts - BBH

Research Team at BBH, notes that overnight, RBNZ Governor Wheeler said while easing is still likely, he saw no need for rapid rate cuts. 

Key Quotes

“With two policy meetings left this year, this suggests no move on September 22 followed by a 25 bp rate cut on November 10.  The Kiwi is the top performing major currency today, up nearly 1% and testing the year’s high near .7340.  While the RBNZ doesn’t target the currency, Wheeler cannot be happy with ongoing Kiwi strength.”