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

Reserve Bank of New Zealand monetary policy decision for April 2024.

• 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

i.e Higher for longer!!!

more to come

More:

• The New Zealand economy continues to evolve as anticipated by the
  monetary policy committee
• A restrictive
  monetary policy stance remains necessary to further reduce
  capacity pressures and inflation.
• Economic growth in
  New Zealand remains weak

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Background to this:

• Preview of the RBNZ monetary policy decision due today, on hold expected

• Preview – Reserve Bank of New Zealand monetary policy decision due today, on hold expected
• RBNZ meet: Shadow Board recommends keeping the Official Cash Rate (OCR) at 5.5%

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