The RBNZ left the official cash rate on hold at 5.5%, with no rate cuts on the cards this year.
Central bank would not have made any different decisions on monetary policy in the past five years under the new remit, Adrian Orr tells Finance and Expenditure select committee.
ANZ’s business confidence survey improved again in December, while inflation expectations nudged lower.
The Westpac-McDermott Miller consumer confidence gauge lifted 8.7 points in the December quarter.
New Zealand economy cools more than expected – with RBNZ pushed to stay on the sidelines.
New Zealand’s economy slowed faster than expected in the September quarter, with a 0.3% contraction.
Food prices jumped 6% in year to November, with a mixed picture for other inflation drivers.
Stats NZ reports a provisional record net migration gain of 128,900 people in the year ended October.
Core Crown tax revenue was 0.7% above forecast at $38.6 billion, while net debt also above expectations.
WATCH: RBNZ’s Christian Hawkesby speaks with NBR about the central bank’s willingness to raise the OCR again.