RBNZ kicks off easing cycle, governor relieved

RBNZ govenor Adrian Orr. (Image: NZME)

Wed, 14 Aug 2024

The Reserve Bank of New Zealand kicked off its easing cycle, cutting the official cash rate by 25 basis points to 5.25% and signalling plenty more are on the horizon. The official cash rate (OCR) has been steady at 5.5% for a year after a string of rate hikes aimed at taking the heat out of the economy and curbing inflation. ReliefReserve Bank of NZ (RBNZ) governor Adrian Orr told a media conference that Wednesday's decision brought a sense of relief. “Why is that? Because it means inflation is going back to where it&rs...

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