Anyone hoping for an interest rate cut is going to have to wait until the spring - at the earliest.
Rob Hosking discusses the latest jobs data on NBR Radio and on-demand on MyNBR Radio.
"As in the recent (McDermott) speech the RBNZ has effectively moved to an easing bias," said Nick Tuffley.
The Reserve Bank governor has abandoned his previous policy of a stable OCR.
Kiwi fell to 76.90 US cents at 5pm in Wellington from 77.15 cents at 8am this morning.
Wheeler is expected to keep the OCR unchanged at 3.5% on Thursday.
In a major shift in message, today Reserve Bank chief economist John McDermott signalled a “dovish” tilt in the thinking of New Zealand’s central bank.
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