All eyes on RBNZ's cash rate forecasts

(Image: BusinessDesk)

Wed, 29 Nov 2023

Any surprises in Wednesday’s monetary policy statement will come from the updated official cash rate forecasts, said Westpac Bank.The Reserve Bank of New Zealand (RBNZ) is widely expected to keep rates on hold at 5.5%, so economists and market participants will flip immediately to the bank’s forecasts located in Appendix 1 at the back of the statement. The statement is due at 2pm on Wednesday.FlattenThe bank could flatten its forecast slightly but continue to reflect an on-hold stance through 2024, Westpac Bank head of NZ stra...

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