RBNZ leaves interest rate unchanged at 1.75%, says rates to stay expansionary for considerable period

Eren Sengezer FXStreet

In a widely expected decision, the Reserve Bank of New Zealand (RBNZ) has left its official cash rate unchanged at 1.75% and said that rates would expansionary for a considerable period. Below are the key highlights, via Reuters, from the monetary policy statement.

Inflation to rise gradually to 2 pct target.
Risks remain to our central forecast.
Recent moderation in growth could last longer.
Conversely, chance inflation could increase faster.
Will look through volatility in headline inflation.
Will only respond to persistent movement in inflation.
Sees early signs of core inflation rising.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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