Orr signals another 50bp cut in Feb

RBNZ Governor Adrian Orr says global uncertainty is baked into forecasts. (Image: NZME)

Thu, 28 Nov 2024

The Reserve Bank of New Zealand looks set to cut rates by another 50 basis points in February to 3.75%. On Wednesday, it cut rates by 50bps to 4.25% and indicated more to come. “Our forward projection is consistent with a 50-basis point cut [in February]”, Reserve Bank of NZ (RBNZ) governor Adrian Orr told journalists. As always, the forecast is conditional on economic conditions panning out as expected. Orr commented after several bank economists said the monetary policy statement was more hawkish than expected....

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