Recent data gives RBNZ more confidence

The RBNZ won't tolerate upside surprises. (Image: BusinessDesk)

Wed, 28 Feb 2024

The Reserve Bank of New Zealand kept the official cash rate on hold at 5.5% and essentially removed the possibility of another hike. “The very positive part of our economic projections is our official cash rate. It’s not predicted to be rising, subject to all of the uncertainties,” Reserve Bank of NZ (RBNZ) governor Adrian Orr told a press conference. “The data we have seen has given us more confidence around the outlook than we’ve held for over a year or so now. It’s much easier to be operating in...

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