In a widely expected decision, the Reserve Bank of New Zealand (RBNZ) has left its official cash rate unchanged at 1.75%.
The RBNZ won’t be publishing its usual monetary policy statement or an updated forecast following its latest meeting. Below are the key highlights from the one-page summary.
- OCR to remain at 1.75 pct for some time to come.
- Keeping OCR at current level is best contribution to maximising sustainable employment and low and stable inflation.
- Expects to keep the OCR at this expansionary level for a considerable period of time.
- Direction of next move is equally balanced, up or down.
- Consumer price inflation remains below target.
- Policy to be supportive for some time to come.
- Employment around a sustainable level.
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