NZIER's Shadow Board predicts RBNZ will hold, with one exception

(Image: NZME)

Mon, 08 Jul 2024

The New Zealand Institute of Economic Research’s Shadow Board expects the Reserve Bank of NZ to hold the official cash rate at 5.5% for another year, although one member did call for a hike this week. “While inflation pressures are still high and the labour market remains strong, the slowing in demand and economic activity and expectations for previous official cash rate [OCR] increases to work their way through the New Zealand economy warrant a hold on further tightening,” the Shadow Board (SB) majority stated.The member...

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