RBNZ cuts by 50bps, says there is more to come

RBNZ Governor Adrian Orr. (Image: BusinessDesk)

Wed, 27 Nov 2024

The Reserve Bank of New Zealand cut the official cash rate by 50 basis points to 4.25%, as widely expected. There is also still more to come. “If economic conditions continue to evolve as projected, the Committee expects to be able to lower the OCR [official cash rate] further early next year,” the Monetary Policy Committee (MPC) said.It said that expectations of future inflation, the pricing intentions of firms, and spare productive capacity are consistent with the inflation target being sustainably achieved.“This provid...

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