Skip to content
Subscriber Only
Markets
Economics

N.Z.'s English Says RBNZ Shares Blame for Slower 2015 Growth

  • RBNZ's Wheeler lifted rates `a bit far' and `had to go back'
  • Says New Zealand's experience is a lesson for Federal Reserve
Updated on

New Zealand Finance Minister Bill English said the nation’s central bank shares some of the blame for slower economic growth this year after raising rates too high in 2014.

“It’s one of the factors, along with dairy prices, that probably led to a much flatter 2015 than we had expected,” English said in a Bloomberg Television interview Thursday. “In retrospect, they lifted them a bit far” and “had to go back,” he said, adding “it could be quite a while before we’re raising rates in New Zealand” again.