WELLINGTON (Reuters) - New Zealand's top central banker on Thursday said he saw no reason to cut interest rates at present as inflation was expected to return to target over time.
Reserve Bank of New Zealand (RBNZ) Governor Graeme Wheeler said he would like to see the local dollar fall and noted the central bank had the capability to intervene.
Historically, the RBNZ has been very reluctant to intervene in the market to influence the currency.
Earlier, the central bank kept rates on hold at a record low of 1.75 percent and reiterated its neutral stance while acknowledging some softer domestic economic data.
It slashed rates three times last year by a total 75 basis points in an attempt to boost consumer prices, but has stayed pat since November 2016.
(Reporting by Charlotte Greenfield; Editing by Shri Navaratnam)
