IMF expects rate cuts toward the end of 2024

The IMF forecasts real GDP growth to slow to 1.1% in 2024. (Image: Getty)

Wed, 20 Mar 2024

The International Monetary Fund expects New Zealand’s inflation to fall below 3% in the third quarter and forecasts a “gradual easing of monetary policy toward the end of 2024”.Inflation was 4.7% in the December quarter, and the official cash rate (OCR) is currently at 5.5%. The Reserve Bank of NZ (RBNZ) has indicated interest rate cuts could kick off in 2025, but most economists expect them to move sooner. International Monetary Fund (IMF) staff said rate cuts “should support growth to recover to over 2% year-on-ye...

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