This is what the guy said.. - Globally, economic growth is below average and inflation
is low, despite highly stimulatory monetary conditions. Financial markets remain concerned about weaker growth in emerging economies, particularly in China. CPI inflation
is below the 1 to 3 percent target range, mainly due to the earlier strength in the New Zealand dollar
and the 65 percent fall in world oil
prices since mid-2014. There are a number of uncertainties and risks to this outlook. In the primary sector, there are risks that dairy prices remain weak for longer, and the current El Niño results in drought conditions and weaker output. Dairy products went down in Jan. 5. Then there is this..- : higher local
production, together with buyers being comfortable with their inventory positions, should further delay any sustained lift in global dairy prices," ANZ said.