The governor of the Reserve Bank says global interest rates are on the cusp of being lowered by central banks, but consumer and business inflation expectations need to drop further for it to happen.
Adrian Orr says New Zealand is like other economies, waiting for the right time to ensure inflation is definitely back under control while not holding rates too high for too long.
Orr told business editor Gyles Beckford the inflation tide is turning and the slowing economy is in line with its expectations.
