Banks don’t expect Reserve Bank to rock the boat

The Reserve Bank releases its monetary policy statement and official cash rate on Wednesday. (Image: Getty)

Mon, 02 Oct 2023

The Reserve Bank of New Zealand will release its monetary policy statement and official cash rate on Wednesday – and it's widely expected the central bank will press pause until after the election.In August, the Reserve Bank of NZ (RBNZ) kept interest rates at 5.5% and adjusted the projected peak to 5.6% in March 2024, up from the previous estimate of 5.5%. This adjustment immediately fuelled speculation about the possibility of another rate hike early next year. The present level of economic activity is limiting spending and, c...

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