Economists eye November OCR cut as inflation stays within RBNZ band

Inflation was largely in line with expectations in the September quarter. (Image: Getty)

Mon, 20 Oct 2025

Annual inflation didn’t breach the central bank’s target band in the September quarter and economists continue to expect a 25-basis point rate cut in November.The Consumers Price Index (CPI) rose 3% in the 12 months to the September 2025 quarter, Stats NZ said on Monday. The Reserve Bank of NZ is mandated with keeping inflation at 1% to 3%.The increase follows a 2.7% increase in the 12 months to the June 2025 quarter.No challengesThe data “certainly don’t present any challenges to the RBNZ’s August forecast: u...

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