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The outlook for New Zealand's economic growth remains positive, Reserve Bank of New Zealand Governor Graeme Wheeler said Wednesday.
However, he said there considerable uncertainties, especially from international environment.
"We are working to deepen the Bank's understanding of the evolving conditions affecting the New Zealand economy and their implications for monetary policy," Wheeler said.
According to the Statement of Intent, a key domestic risk continues to be the performance of the housing market.
Mortgage interest rates remain low and while building activity has continued to increase, the rate of house building is insufficient to accommodate rapid population growth and address existing housing shortages, the bank said.
The Statement of Intent is prepared by the RBNZ to keep the Minister of Finance regularly informed about its thinking on significant market and policy developments.
