Expected New Zealand Rate Cut May Fuel Its Red-Hot Housing Market

Updated on
  • RBNZ expected to cut rates Thursday despite housing boom
  • Inflation targeting ``no longer fit for purpose,'' says NZIER

Graeme Wheeler, governor of the Reserve Bank of New Zealand.

Photographer: Mark Coote/Bloomberg

Inflation targeting may have become a straitjacket for the central bank that pioneered it.

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