- Says he is concerned about house-price inflation in Auckland
- No plans for further macroprudential instruments
- Need for rate tightening has been pushed out
- Productivity growth may be starting to improve
- Message is clear that RBNZ is on hold for a long time
- Lower oil price increases disposable income
- 3.5% cash rate is low
- Don’t see massive risks to growth
- See no serious risk of collapse in terms of trade