• Expects to keep cash rate unchanged in 2013
  • Inflation will remain close to 1% this year, but will gradually rise toward 2%
  • High NZD is a significant headwind
  • Growth in economy has picked up
  • House price inflation is high in some regions
  • NZD strength partly because of Japanese QE

RBNZ Governor Wheeler comments accompanying the interest rate decision.

No surprises in the decision or in his comments.