IMF expects rate cuts toward the end of 2024

IMF expects rate cuts toward the end of 2024
The IMF forecasts real GDP growth to slow to 1.1% in 2024. (Image: Getty)
Rebecca Howard
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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Economy

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Staff reporters 04 Jul 2024