Minutes from the Reserve Bank of New Zealand meeting:
-
Committee noted inflation is still expected to decline within the
target band by the second half of 2024 - Committee agreed
that the risks around the inflation projection remain balanced - Committee noted that
the estimate of the nominal neutral OCR has increased by 25 basis
points to 2.25% within the projections, consistent with the Reserve
Bank’s indicator suite
—
Earlier:
- Reserve Bank of New Zealand leave cash rate unchanged at 5.5%, as widely expected
- NZD/USD a few points higher after the RBNZ statement says rates to stay high for some time
Still to come is RBNZ Governor Orr’s press conference due at 0300 GMT, 11pm US Eastern time.
This article was written by Eamonn Sheridan at www.forexlive.com. Source