RBNZ plans more cuts sooner rather than later

RBNZ Governor Adrian Orr. (Image: NZME)

Wed, 19 Feb 2025

The Reserve Bank of New Zealand has cut the official cash rate by 50 basis points to 3.75% and brought forward planned rate cuts. "If economic conditions continue to evolve as projected, the committee has scope to lower the OCR [official cash rate] further through 2025," the Monetary Policy Committee (MPC) said. The Reserve Bank of NZ's (RBNZ) forward-looking track now forecasts the cash rate reaching a low of 3.1% in December this year. In November, the RBNZ forecast that it would reach that point in March 2027 and...

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