RBNZ turns more dovish, November cuts on table

Wed, 10 Jul 2024

The Reserve Bank of New Zealand has kept interest rates on hold at 5.5% but is more dovish in its outlook."The [Monetary Policy] Committee’s messaging gives us greater confidence that the bank will commence its easing cycle in November,” said Capital Economics Australia and New Zealand economist Abhijit Surya. “The RBNZ sounded rather dovish in its commentary." Restrictive monetary policy "has significantly reduced consumer price inflation", according to the committee (MPC).It now expects inflation to...

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