RBNZ keeps OCR on hold at 1.75%
|The Reserve Bank of New Zealand (RBNZ) said that it would leave the official cash rate unchanged at 1.75% in a decision that was widely expected, highlighting that numerous uncertainties remain and policy may need to adjust accordingly.
Key headlines (via Reuters):
- Longer-term inflation expectations remain well-anchored at around 2 pct
- Monetary policy will remain accommodative for a considerable period
- Numerous uncertainties remain and policy may need to adjust accordingly
- Longer-term inflation expectations remain well-anchored at around 2 pct
- Expects future headline inflation to reach the midpoint of the target band over the medium term
- Inflation rise mainly due to temporary factors may lead to some variability in headline inflation
- House price inflation has moderated further, moderation projected to continue
- There is risk of resurgence in house price inflation given the ongoing imbalance between supply and demand
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