RBNZ's Breman Cautions on Higher Oil Prices and Near-Term Inflation

Reserve Bank of New Zealand (RBNZ) Governor Anna Breman spoke about the potential impact of higher oil prices on inflation. If oil prices persist, they could lead to slightly higher near-term inflation than what was assumed in the September statement.

Breman emphasized that the central bank will assess incoming data and global developments ahead of its next decision in October, remaining focused on the outlook for inflation.

The RBNZ's primary objective is to achieve and maintain price stability, with an inflation target between 1% and 3%. The central bank also aims to support maximum sustainable employment.