RBNZ stays on hold at 5.5%, strikes more hawkish tone

RBNZ stays on hold at 5.5%, strikes more hawkish tone
(Image: BusinessDesk)
Rebecca Howard
The Reserve Bank of New Zealand kept rates on hold at 5.5%, as widely expected, but didn't close the door to further rate hikes. The Reserve Bank of NZ's (RBNZ) forecast and statement will have put an immediate end to speculation the central bank might be eyeing up the possibility of a rate cut. The closely watched official cash rate (OCR) forecasts showed the bank is more hawkish than it was in August. The cash rate is seen at 5.6% in December 2023; it then lifts to 5.7% in June 2024 before easing back to 5.6% in March 2...

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