Reserve Bank of New Zealand leaves cash rate on hold at 5.5%, as widely expected

Reserve Bank of New Zealand

The Bank sees the cash rate ahead at:

• 5.61% in September 2024 (prior 5.6%)
• 5.54% in June 2025 (prior 5.33%)
• 5.4% in September 2025 (prior 5.15%)
• 2.99% in June 2027

Forecasts inflation at 2.6% y/y by June 2025

more to come

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RBNZ Governor Orr will hold his press conference in an hour.

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Background to this:

• New Zealand’s RBNZ Monetary Policy Shadow Board recommends cash rate on hold this week

• Reserve Bank of New Zealand policy meeting preview – (still) hawkish hold expected

• Reserve Bank of New Zealand expected on hold at its May 2024 meeting – preview
• Reserve Bank of New Zealand monetary policy meeting preview – on hold expected

And, what’s still to come this week from the Bank:

• plenty more to come from the Bank this week

Old photo, some of these officials have moved on

This article was written by Eamonn Sheridan at www.forexlive.com.