RBNZ keeps interest rate steady at 5.50%, as expected
|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%.
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%.
NZD/USD declined 0.6% after the RBNZ stating that it expects inflation to return to the 1-3% target range in 2H. The RBNZ is also diverging from the RBA, where markets still see a risk of another rate hike due to stubborn inflation, DBS FX & Credit Strategist Chang Wei Liang notes.
The RBNZ has decided to leave its official cash rate (OCR) unchanged at 5.50% in Jul for an eighth straight meeting. The RBNZ’s tone was a lot less hawkish than in May, UOB Group economist Lee Sue Ann notes.
Chief Economist of the Reserve Bank of New Zealand Paul Conway gave a speech on inflation during the early Wednesday market session, noting that inflation troubles exist on both sides of the RBNZ's policy stance.
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.
Following the conclusion of the April policy meeting on Wednesday, the Reserve Bank of New Zealand (RBNZ) board members decided to maintain the Official Cash Rate (OCR) at 5.50%. The decision was in line with the market expectations.
At its February policy meeting, the RBNZ decided to keep the policy rate steady at 5.50% for the fifth meeting in a row.
The Reserve Bank of New Zealand (RBNZ) board members decided to hold the Official Cash Rate (OCR) unchanged at 5.5%, as widely expected in its November monetary policy meeting.
The Reserve Bank of New Zealand is New Zealand's central bank. Like most central banks, the Reserve Bank is primarily a policy organisation, and exists to do three main things: formulate and implement monetary policy to maintain price stability, promote the maintenance of a sound and efficient financial system and meet the currency needs of the public.
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Adrian Orr is the Governor of the Reserve Bank of New Zealand. He was appointed in March 2018. He is New Zealand born and bred, and primarily of Cook Island and Irish descent. Adrian 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 (Distinction) from the University of Leicester, England, graduating in 1985. Adrian 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.