Jason Wong Monetary Quotations

We have pushed out the timing of the monetary policy easing to June and reduced the cumulative amount through 2006 to 75 basis points.

With the economy growing below potential, labor market indicators probably continued to ease. The survey should be relatively friendly for those expecting easier monetary policy later in the year.

Inflation is going to remain in the top half of the target range and (it's) all very consistent with monetary policy needing to remain relatively tight for some time,