Recap: RBNZ Wheeler press conference

FXStreet (Bali) - At a press conference, RBNZ Governor Wheeler, outlined that the central bank still sees inflation pressures, while reaffirming the strong momentum in the economy.

With regards to the NZD exchange rate, Wheeler said "the bank will continue to monitor the NZD", while declining to comment on possible intervention.

Wheeler was somewhat surprised by the NZD resilience despite fall in commodity prices. Expects weakening as commodity prices fall, noting the strong historical correlation between NZD and terms of trade.