Breaking news: Reserve Bank maintains OCR at 5.5%, predicts inflation hitting target by 2024. Find out more!
In a recent announcement, the Reserve Bank of New Zealand has decided to keep the Official Cash Rate (OCR) at 5.5%. The central bank cited a decrease in inflation, projecting a return to target levels by the end of 2024. By maintaining the OCR, the Reserve Bank aims to manage interest rates and regulate inflation effectively.
Despite expectations from economists for a possible rate adjustment, the Reserve Bank showed no signs of relenting in its decision to hold the OCR steady at 5.5%. This move aligns with forecasts predicting when adjustments to the official cash rate may begin.
While leaving the OCR untouched at 5.5%, the Reserve Bank highlighted the sluggish decline in domestic inflation. With a 60% probability of a future rate hike, the bank is closely monitoring economic indicators to navigate the inflation landscape.
In a surprising development, the Reserve Bank has postponed the anticipated first OCR cut to the second half of 2025. This delay reflects the bank's cautious approach to monetary policy changes and its focus on stabilizing the economy.
Did you know that despite speculation, ANZ's Chief Economist suggests that interest rates are unlikely to decrease this year? Additionally, Infometrics' Brad Olsen points out that the central bank's attention is primarily on inflation, rather than other economic challenges like rising unemployment.
The Reserve Bank has held the official cash rate unchanged at 5.5 per cent saying inflation is falling and should be back at target by the end of 2024.
Increasing the OCR increases interest rates and helps bring inflation down. Tuesday's decision comes as inflation fell to 4 percent in the March quarter and was ...
There's been no reprieve from the Reserve Bank today, but that's in line with economist expectations of when the official cash rate might start to see a ...
The Reserve Bank has left the Official Cash Rate unchanged at 5.5%, but is noting that domestic inflation is slow to decline and it is now putting a 60% ...
The Reserve Bank has pushed out its likely first cut in its official cash rate (OCR) into the second half of 2025 and possibly not until the final quarter.
Restrictive monetary policy has reduced capacity pressures in the New Zealand economy and lowered consumer price inflation. Annual consumer price inflation ...
ANZ's Chief Economist Sharon Zollner told Mike Hosking that their view is that a cut is more likely to come next year, as inflation is coming down quite slowly.
Infometrics' Brad Olsen says the central bank is having to focus on inflation, over other negative economic indicators like rising unemployment. He told Mike ...
The NZD/USD pair rebounded after two days of losses, trading around 0.6140 during Asian hours on Wednesday following the Reserve Bank of New Zealand's ...
In its updated forecasts, the bank predicts a 5.7 percent OCR peak at the end of this year. That indicates that it believes that another increase remains a ...
Listen live: Reserve Bank Governor Adrian Orr discusses latest OCR decision with Newstalk ZB's Mike Hosking at 7.37am The Reserve Bank has held the Official ...
ANALYSIS The Reserve Bank of New Zealand (RBNZ) is continuing to dash the hopes of borrowers hanging out for an official cash rate (OCR) cut before the end.
Kiwibank's, Jarrod Kerr says there is worry it won't be cut until February. However, his bank's outlook remains the same. "Our forecast has inflation dropping ...
Reserve Bank governor Adrian Orr still believes inflation will drop to usual levels towards the end of 2024. The Reserve Bank has kept the official cash rate ...
Domestic inflation is proving more stubborn than expected, and the Bank is also considering hiking rates if it must. Malcolm Knight, Director of Advice Knight, ...
It says restrictive monetary policy has reduced capacity pressures in the New Zealand economy and lowered consumer price inflation (CPI). โAnnual consumer price ...
The real action was in the forecasts. Does the Reserve Bank plan to change the OCR soon? What do they think will happen to house prices? And when will inflation ...