RBNZ policy review is a carbon copy of the May statement, economists say

RBNZ govenor Adrian Orr. (Image: NZME)

Wed, 13 Jul 2022

Nothing much has changed after the Reserve Bank of New Zealand (RBNZ) reviewed its monetary policy this afternoon and pressed ahead with another 50-basis point rate hike.ANZ’s chief economist, Sharon Zollner, said it was a “copy-paste” from the previous monetary policy statement which was released in May.The previous announcement was much more dramatic, with a projection that showed the official cash rate (OCR) climbing to almost 4% by the start of 2023.Today, the Monetary Policy Committee said it was comfortable with that for...

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