The bank needs to be sure inflation will come down. This is not a time to be talking of easing policy.
More Quotes from Craig Ebert:
There's been a definite negative turn in sentiment toward the kiwi. This reflects all those macroeconomic factors that we thought would inevitably start to be a noose around its neck. The growth profile is weakening.Craig Ebert
We think it's one of the best statements from the bank in a long time. It states the case pretty clearly. It's unequivocal.
Craig Ebert
There is much on the horizon to support household incomes, which may well prevent the slowdown the Reserve Bank expects.
Craig Ebert
Forget the interpretations of recession. We're still talking about a relatively stretched economy. There is no justification for the Reserve Bank to abandon the firm interest- rate outlook.
Craig Ebert
Wage inflation works with a lag and is going to stay high. It's hard to get too bearish about the outlook for spending growth.
Craig Ebert
It's a real issue for the central bank when they are trying to keep the cash rate up, most of the forward pricing in the interest rate market tends to slip, and it's frustrating.
Craig Ebert
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