New Zealand's (NZ) inflation expectations were a mixed bag on a 12-month and a two-year time frame for the fourth quarter of 2024, the Reserve Bank of New Zealand’s (RBNZ) latest monetary conditions survey showed on Monday.
The Reserve Bank of New Zealand (RBNZ) stated on Tuesday that the economic conditions remain challenging and business is doing it tough. The New Zealand central bank also warns of the impact of geopolitical tensions on the economy.
We think the bar is high for a 75bps OCR cut given the prevailing economic backdrop. Inflation in New Zealand is back within the target band, driven by disinflation in tradables.
The Reserve Bank of New Zealand (RBNZ) announced on Wednesday that it lowered the Official Cash Rate (OCR) by 50 basis points (bps) from 5.25% to 4.75%, following the conclusion of the October policy meeting.
The Reserve Bank of New Zealand (RBNZ) lowered the Official Cash Rate (OCR) by 25 basis points (bps) from 5.50% to 5.25%, following the conclusion of the August policy meeting on Wednesday. The market participants anticipated a rates on-hold decision.
After the July policy meeting conducted on Wednesday, the Reserve Bank of New Zealand (RBNZ) board members decided to keep the Official Cash Rate (OCR) steady at 5.50%.
The Reserve Bank of New Zealand (RBNZ) board members decided to leave the Official Cash Rate (OCR) unchanged at 5.50%, following the conclusion of the May policy meeting on Wednesday. The decision was widely as the market participants expected.
The Reserve Bank of New Zealand (RBNZ) is New Zealand's central bank. Its primary role is to “give people, communities and businesses the confidence to spend, borrow and save money” by maintaining a sound and efficient monetary and financial system. The RBNZ achieves this by managing inflation to keep prices stable, regulating banks and finance companies, producing New Zealand’s banknotes and coins and operating effective wholesale payment and settlement systems. Its economic objectives are achieving and maintaining price stability – achieved when inflation, measured by the Consumer Price Index (CPI), falls within the band of between 1% and 3% – and supporting maximum sustainable employment.
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Adrian Orr is the Governor of the Reserve Bank of New Zealand. He was appointed in March 2018 and was reappointed for a second five-year term effective from March 2023. He graduated from the University of Waikato in 1983 with a Bachelor of Social Sciences, majoring in Economics and Geography. He also holds a Master’s Degree in Development Economics from the University of Leicester, England. Orr has also served as Chair of the International Forum of Sovereign Wealth Funds, and Chair of the Pacific Pension and Investment Institute.
Adrian official RBNZ profile
The World Interest Rates Table reflects the current interest rates of the main countries around the world, set by their respective Central Banks. Rates typically reflect the health of individual economies, as in a perfect scenario, Central Banks tend to rise rates when the economy is growing and therefore instigate inflation.