More from the RBNZ: Estimate of nominal neural cash rate has increased 25bp

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


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 Source