RBNZ keeps interest rates on hold at 1.75%

Felipe Erazo FXStreet

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 they will remain accommodative for a considerable period. A press conference will take place at 22:00 GMT.

Key headlines (via Reuters):

Developments since Feb on balance considered to be neutral for monetary policy stance
Numerous uncertainties remain and policy may need to adjust accordingly
House price inflation has moderated further, moderation projected to continue
Headline inflation to reach midpoint of target band over medium term
Long-term inflation expectations remain anchored at around 2 pct
Says in recent increase in headline inflation temporary
Growth outlook remains positive
Global growth has increased, more broad-based
Domestic economic growth outlook remains positive
Fall in TWI encouraging and if sustained will help rebalance growth outlook

Author

Felipe Erazo

FXStreet

Born in Colombia, Felipe Erazo is the American Session Manager at FXStreet. He has been studying journalism with a degree in social communication at the Universidad de Chile.

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