Economists say no-change OCR comes as no surprise

(Image: Getty)

Wed, 04 Oct 2023

The Reserve Bank of New Zealand’s decision to keep the official cash rate on hold at 5.5% came as little surprise to most economists, but it did raise questions about what the future holds as the central bank offered little in the way of forward guidance. “Interest rates are constraining economic activity and reducing inflationary pressure as required,” the monetary policy committee said. But it added that rates may have to remain higher for longer.'Still open'“Overall, we’d tee up the October rev...

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