WELLINGTON, April 7 (Reuters) - The Reserve Bank of New Zealand's deputy governor said on Thursday that the country's strong labour supply was a factor in keeping monetary policy accommodative.
"Stronger than expected labour supply, and greater than expected slack, has been a factor in our assessment that it has been appropriate to keep monetary policy accommodative," said Geoff Bascand at a speech in Dunedin.
He added that recent increases in real wages were unsustainable in the long run without higher productivity.
