RBNZ on hold for considerable period of time - Westpac

Ross J Burland FXStreet

Analysts at Westpac explained that the Reserve Bank left the Official Cash Rate unchanged at 1.75% in its August Monetary Policy Statement, and the guidance that it provided was very similar to its previous reviews.

Key Quotes:

"The RBNZ believes that monetary policy will need to remain accommodative for a long time, to support growth and guide inflation towards the target on a sustained basis."

"We agree with that view, and we think that interest rate hikes will be delayed a lot longer than the market expects."

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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