Analysts at Westpac, expect the Reserve Bank of New Zealand to hold the OCR at 1.75% and to maintain a neutral outlook for interest rates in its upcoming meet on Thursday.
“While near-term inflation is looking a bit stronger, growth in activity has fallen short of the RBNZ’s very optimistic forecasts. The slowdown in the housing market may have been a factor here.”
“The risk is that the economy simply may not have enough puff to generate the sustained lift in inflation pressures that the RBNZ is looking for.”
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