NZ RBNZ Rate Statement
It's among the primary tools the RBNZ uses to communicate with investors about monetary policy. It contains the outcome of their decision on interest rates and commentary about the economic conditions that influenced their decision. Most importantly, it discusses the economic outlook and offers clues on the outcome of future decisions;
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Oct 8, 2024 | |
Aug 13, 2024 | |
Jul 9, 2024 | |
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Apr 9, 2024 | |
Feb 27, 2024 | |
Nov 28, 2023 | |
Oct 3, 2023 | |
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- NZ RBNZ Rate Statement News
Policymakers at the Reserve Bank of New Zealand have slashed half a percentage point from the official cash rate and claimed victory in achieving its inflation mandate. The seven person Monetary Policy Committee chose to cut the benchmark interest rate from 5.25% to 4.75% after meeting on Wednesday. In a statement, they said annual inflation was now within the target range and was "converging on the 2% midpoint". "The New Zealand economy is now in a position of excess capacity, encouraging price- and wage-setting to adjust to a ...
The Monetary Policy Committee today agreed to cut the Official Cash Rate (OCR) to 4.75 percent. The Committee assesses that annual consumer price inflation is within its 1 to 3 percent inflation target range and converging on the 2 percent midpoint. Economic activity in New Zealand is subdued, in part due to restrictive monetary policy. Business investment and consumer spending have been weak, and employment conditions continue to soften. Low productivity growth is also constraining activity. Some exporters have benefited from ...
New Zealand’s annual consumer price inflation is returning to within the Monetary Policy Committee’s 1 to 3 percent target band. Surveyed inflation expectations, firms’ pricing behaviour, headline inflation, and a variety of core inflation measures are moving consistent with low and stable inflation. Economic growth remains below trend and inflation is declining across advanced economies. Some central banks have begun reducing policy interest rates. Imported inflation into New Zealand has declined to be more consistent with ...
Restrictive monetary policy has significantly reduced consumer price inflation, with the Committee expecting headline inflation to return to within the 1 to 3 percent target range in the second half of this year. The decline in inflation reflects receding domestic pricing pressures, as well as lower inflation for goods and services imported into New Zealand. Labour market pressures have eased, reflecting cautious hiring decisions by firms and an increased supply of labour. The level of economic activity, including business and consumer investment spending and investment intentions, is consistent with the restrictive monetary stance. Current and expected government spending will restrain overall spending in the economy. However, the positive impact of the pending tax cuts on private spending is less certain. Some domestically generated price pressures remain strong. But there are signs inflation persistence will ease in line with the fall in capacity pressures and business pricing intentions. The Committee agreed that monetary policy will need to remain restrictive. The extent of this restraint will be tempered over time consistent with the expected decline in inflation pressures. post: RBNZ: POLICY TO REMAIN RESTRICTIVE post: RBNZ EXPECTS RESTRAINT TO LESSEN GRADUALLY post: RBNZ SEES STRONG DOMESTIC PRICE PRESSURES post: RBNZ SEES SIGNS OF EASING INFLATION PERSISTENCE
Restrictive monetary policy has reduced capacity pressures in the New Zealand economy and lowered consumer price inflation. Annual consumer price inflation is expected to return to within the Committee’s 1 to 3 percent target range by the end of 2024. The welcome decline in inflation in part reflects lower inflation for goods and services imported into New Zealand. Globally, consumer price inflation has declined from 30-year highs in many advanced economies. However, services inflation is receding slowly, and expected policy interest ...
The Monetary Policy Committee today agreed to leave the Official Cash Rate (OCR) at 5.50 percent. The New Zealand economy continues to evolve as anticipated by the Monetary Policy Committee. Current consumer price inflation remains above the Committee’s 1 to 3 percent target range. A restrictive monetary policy stance remains necessary to further reduce capacity pressures and inflation. Globally, while there are differences across regions, economic growth remains below trend and is expected to remain subdued. However, most major central banks are cautious about easing monetary policy given the ongoing risk of persistent inflation. Economic growth in New Zealand remains weak. While some near-term price pressures remain, the Committee is confident that maintaining the OCR at a restrictive level for a sustained period will return consumer price inflation to within the 1 to 3 percent target range this calendar year. post: RBNZ: COMMITTEE IS CONFIDENT THAT MAINTAINING THE OCR AT A RESTRICTIVE LEVEL FOR A SUSTAINED PERIOD WILL RETURN CONSUMER PRICE INFLATION TO WITHIN THE 1 TO 3 PERCENT TARGET RANGE THIS CALENDAR YEAR post: ECONOMIC GROWTH IN NEW ZEALAND REMAINS WEAK: RBNZ
The Reserve Bank of New Zealand (RBNZ) is widely expected to maintain the Official Cash Rate (OCR) at 5.50% for the sixth consecutive meeting in a row following the conclusion of its monetary policy meeting on Wednesday. The New Zealand Dollar (NZD) is primed for a big market reaction to the RBNZ policy announcements despite the absence of RBNZ Governor Adrian Orr’s press conference and the publication of updated economic projections. What to expect from the RBNZ interest rate decision? As a rates on-hold decision is fully priced in, ...
Over the past year or so, the New Zealand economy has evolved broadly as anticipated by the Committee. Core inflation and most measures of inflation expectations have declined, and the risks to the inflation outlook have become more balanced. However, headline inflation remains above the 1 to 3 percent target band, limiting the Committee’s ability to tolerate upside inflation surprises. Restrictive monetary policy and lower global growth have contributed to aggregate demand slowing to better match the supply capacity of the New ...
Released on Oct 8, 2024 |
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Released on Aug 13, 2024 |
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Released on Jul 9, 2024 |
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Released on May 21, 2024 |
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Released on Apr 9, 2024 |
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Released on Feb 27, 2024 |
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