Reserve Bank of New Zealand (RBNZ) Governor Adrian Orr hit newswires early Friday in the Antipodean session while delivering a speech titled "The Monetary Policy Remit and 2% Inflation" at the New Zealand Economics Forum in Hamilton, NZ.
RBNZ holds interest rate steady but leaves door ajar for more hikes
RBNZ LAST MOVEMENTS ON INFLATION CONTROL
New Zealand’s (NZ) two-year inflation expectations for households are seen rising to 3.2%, as against a 3.0% growth estimated before, the latest survey conducted by the RBNZ showed on Thursday.
We do not expect a further RBA rate increase, but with the central bank forecasting above-target inflation for an extended period, we believe rate cuts are some way off.
RBNZ latest news
RBNZ latest analysis
NOVEMBER DECISION REVIEW
The Reserve Bank of New Zealand (RBNZ) board members decided to hold the Official Cash Rate (OCR) unchanged at 5.5%, as widely expected in its November monetary policy meeting.
OCTOBER DECISION REVIEW
Following its October monetary policy meeting, the Reserve Bank of New Zealand (RBNZ) board members decided to hold the Official Cash Rate (OCR) unchanged at 5.5%, as widely expected.
AUGUST DECISION REVIEW
Following the August monetary policy meeting, the Reserve Bank of New Zealand (RBNZ) board members decided to leave the official cash rate (OCR) unchanged at 5.50%. The RBNZ policy decision aligned with the market expectations of a no-rate change this month.
May DECISION REVIEW
At the May policy meeting, the Reserve Bank of New Zealand (RBNZ) board members decided to increase the official cash rate (OCR) by 25 basis points (bps) from 5.25% to 5.50%, as widely expected.
What is the RBNZ
The Reserve Bank of New Zealand is New Zealand's central bank. Like most central banks, the Reserve Bank is primarily a policy organisation, and exists to do three main things: formulate and implement monetary policy to maintain price stability, promote the maintenance of a sound and efficient financial system and meet the currency needs of the public.
Who is RBNZ's president?
Adrian Orr is the Governor of the Reserve Bank of New Zealand. He was appointed in March 2018. He is New Zealand born and bred, and primarily of Cook Island and Irish descent. Adrian graduated from the University of Waikato in 1983 with a Bachelor of Social Sciences, majoring in Economics and Geography. He also holds a Master’s Degree in Development Economics (Distinction) from the University of Leicester, England, graduating in 1985. Adrian has also served as Chair of the International Forum of Sovereign Wealth Funds, and Chair of the Pacific Pension and Investment Institute.
Adrian official RBNZ profile
Interest rates latest news
The World Interest Rates Table
The World Interest Rates Table reflects the current interest rates of the main countries around the world, set by their respective Central Banks. Rates typically reflect the health of individual economies, as in a perfect scenario, Central Banks tend to rise rates when the economy is growing and therefore instigate inflation.