RBNZ cuts by 50bps to 4.25%

(Image: NZME)

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 cuts to come. “If economic conditions continue to evolve as projected, the committee expects to be able to lower the OCR further early next year,” the Monetary Policy Committee (MPC) said.Expectations of future inflation, the pricing intentions of firms, and spare productive capacity are consistent with the inflation target being sustainably achieved, it said.“This provides the context and the...

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