New Zealand faced a material threat of experiencing a prolonged period of below-target consumer price inflation, and employment levels well below any estimate of a maximum sustainable level. ____________ Christian Hawkesby (2021, 21 September). Speech: A least regrets approach to uncertainty: Hawks, Doves and the White Heron (he Kōtuku).
•  As the economy gradually returns to full capacity and with inflation expectations well-anchored, both core and total CPI inflation are expected to return to 2 per cent around mid-2015. BIS central bankers’ speeches  1  •  The outlook balances the many upside and downside risks to inflation.